If Good Smells, a perfume manufacturer, purchases several local retail shops to sell their perfumes, this is an example of ________.
A) outsourcing
B) divestiture
C) backward integration
D) forward integration
D) forward integration
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Under the U.S. system of regulation, most regulars are selected from
A) politicians and their friends. B) the industry that is to be regulated. C) consumer advocacy groups. D) university professors who understand the nature of the industry and who understand the true interests of consumers.
Which of the following will not result in a leftward shift of the market demand curve for labor?
a. a decrease in labor productivity b. a decrease in demand for the firm's product c. an increase in the wage rate d. a decrease in the firm's product price
Consider a perfectly competitive firm whose minimum average total cost is $100 . This firm is representative of all the firms in the market. If the market price is $80, then in the long run
a. new, more-efficient firms will be attracted into the industry b. market supply will fall c. the firm's average revenue will fall d. all the firms currently operating will increase output e. total market output will rise
Which of the following is true regarding the policy positions of George H.W. Bush and Bill Clinton in the 1992 election?
a. Bush's approach was relatively more active, while Clinton's was relatively more passive. b. Both Bush and Clinton were advocates of a passive approach. c. Bush's approach was relatively more passive, while Clinton's was relatively more active. d. Both Bush and Clinton were advocates of an active approach.