Baxter International, a manufacturer of hospital supplies, acquired American Hospital Supply, a distributor of hospital supplies. This is an example of
A) a conglomerate merger.
B) a horizontal merger.
C) a vertical merger.
D) a two-dimensional merger.
Answer: C
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At any level of output
A. average total cost will exceed average variable cost by the amount of the average fixed cost. B. marginal cost will exceed average variable cost by the amount of the average fixed cost. C. average variable cost will exceed average total cost in the short run. D. average variable cost will exceed average fixed cost by the amount of the average total cost.
In the new classical model, an unanticipated increase in the money stock would cause
a. the price level and the level of real output to rise. b. the price level to rise with no effect on real output. c. real output to rise with no effect on the price level. d. no change in the price level or level of real output.
Refer to the graph shown. If market price is currently $5.00 per unit, this perfectly competitive firm will maximize profit by producing:
A. 650 units of output. B. 450 units of output. C. 850 units of output. D. between 550 and 650 units of output.
A recessionary expenditure gap is:
A. the amount by which the full-employment GDP exceeds the level of aggregate expenditures. B. the amount by which equilibrium GDP falls short of the full-employment GDP. C. the amount by which investment exceeds saving at the full-employment GDP. D. the amount by which aggregate expenditures exceed the full-employment level of GDP.