Which of the following describes a corporate merger?
a. When two firms join to form a new firm
b. When one firm buys another firm
c. When a firm splits to form two new firms
d. When a firm sells part of itself to another firm
a. When two firms join to form a new firm
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The table above gives the domestic demand and supply schedules for a good. Suppose the world price of the good is $40 and the government imposes a $20 per unit tariff. How much will the government collect as tariff revenue?
A) $160 B) $360 C) $320 D) $240 E) $80
A relative price is the product of two money prices
Indicate whether the statement is true or false
Sales taxes are routinely collected by
A) the merchants selling the good or services. B) the Internal Revenue Service. C) the Department of Commerce. D) the Federal Trade Commission.
Complete the following analogy: A criminal is to a police artist's sketch as the economy is to:
A. money. B. an economic model. C. a resource. D. scarcity.