If Ford Motor Company and General Motors Corporation were to merge, this would represent
A. a horizontal merger.
B. a cartel.
C. a vertical merger.
D. an up-and-down merger.
Ans: A. A horizontal merger.
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Which of the following generates allocative efficiency in a market economy?
A) United Nations rules for competition B) equity C) voluntary exchange between buyers and sellers D) national government intervention
Giving presents at Christmas does NOT generate a deadweight loss if
A) all gifts are money. B) everybody gets exactly want she wants. C) nobody can be made better off by returning the gift and purchasing a different one. D) All of the above.
Whatever functions as money must be _____
a. authorized by the government b. accepted as deposit by banks c. backed by precious metals like gold or silver d. completely indestructible e. limited in supply
What are the three ways economies are organized?
a. communism, socialism, free b. market, capitalism, mixed c. traditional, command, market d. traditional, market, mixed