The output per acre on U.S. farms has
a. remained fairly stagnant since 1968
b. increased only slightly since 1968
c. declined dramatically since the late 1970s
d. more than doubled since World War II
e. shown a marked decline in recent years
D
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A merger between an auto manufacturer and a steel mill would result in which of the following?
a. A conglomerate merger. b. A vertical merger. c. A horizontal merger. d. A monopoly merger.
According to new classical school of economics, the aggregate supply curve is:
a. horizontal in both the short run and the long run. b. vertical in the short run and upward-sloping in the long run. c. upward-sloping in both the short run and the long run. d. vertical in both the short run and the long run. e. upward-sloping in the short run and vertical in the long run.