If Happy Cows, a dairy firm, merges with Best Cartons, a manufacturer of dairy cartons, and the combined firm is able to reduce the number of executive managers, the merger created ________.
A) synergies
B) managerial diseconomies
C) technological interdependencies
D) a hold-up problem
A) synergies
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Which of the following is a result of a market economy?
A) voluntary exchange B) an equal income distribution C) agreement on equity D) environmental protection
Refer to above figure. What is the consumer surplus enjoyed by Hungarian consumers of Boeing aircraft in the situation?
What will be an ideal response?
Economic progress
A) reflects that people are achieving higher income levels and living standards. B) requires that individuals work longer hours. C) indicates that scarcity is no longer a problem. D) indicates income levels are higher even though environmental and health conditions have worsened.
Use the following information to answer this question. If nominal GDP rises from $100 trillion to $120 trillion, while the GDP deflator rises from 2.0 to 2.2, the percentage change in real GDP is approximately equal to
A) -10%. B) 10%. C) 20%. D) 9.1%. E) 0%.