In which quarter of which year did the prosperity phase of the business cycle begin?

The purchase of Michelin Tire Company by General Motors is an example of a horizontal merger

a. True b. False Indicate whether the statement is true or false

If Country A has an absolute advantage over Country B in the production of every commodity:

a. mutual gains from trade between Country A and Country B would be impossible. b. Country B would be able to gain from trade but not country A. c. the joint output of the two countries could not be increased through specialization and exchange. d. mutual gains from trade would still be possible.