A vertically integrated firm is a group of plants each operating at different stages of production.

Refer to the scenario above. Which of the following will happen if Mike decides to mow his lawn by himself?

A) GDP will remain unchanged. B) Per capita income will increase. C) GDP will decrease. D) GDP will increase.

Brandon, Haley, Melissa, and Jeffrey each won $1,000 in their office football pool. According to Keynes's absolute income hypothesis, which of them would be most likely to spend the most out of their winnings?

a. Brandon, Haley, Melissa, and Jeffrey will spend the same out of their winnings b. Brandon, who earns $10,000 as a mail clerk c. Haley, who earns $25,000 as an account representative d. Melissa, who earns $50,000 as a software programmer e. Jeffrey, who earns $2 million as the CEO