A conglomerate merger:
A. can extend the line of products sold, extend the territories in which products are sold, or
combine totally unrelated products.
B. is defined as a merger involving two firms that previously had a buyer-seller relationship.
C. is defined as a merger involving two firms producing the same or similar products and
selling them in the same geographical market.
D. is illegal, per se.
Answer: A
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In the classical model, what occurs if a wage of $20/hour results in unemployed workers?
A) The wage rate will drop, more workers will be hired, and the unemployment rate falls. B) Producers will quickly create more jobs and hire the unemployed workers, so unemployment is short-lived. C) The workers will go on strike to demand that more jobs be created. D) The government will step in and order firms to hire more workers.
Suppose a person calculates her permanent income by adaptive expectations. Last year's permanent income was 38,000, this year's actual income is 41,000, j = 0.30, and k = 0.86. What is her consumption expenditure this year?
A) 30,422 B) 12,174 C) 40,226 D) 38,774 E) 33,454
The private information revealed during screening typically refers to information:
A. that is personal. B. that is embarrassing. C. that is not public. D. that individuals generally do not want anyone to find out.
On a production possibilities diagram, points inside the frontier are: a. unattainable given existing technology and resources. b. inefficient
c. efficient. d. efficient but not necessarily desirable.