According to Alfred Chandler, large vertically integrated firms dominated much of American manufacturing in the early 1900s because
a. U.S. manufacturers sought to emulate the production practices of European manufacturers.
b. U.S. tax laws created strong incentives for vertical integration.
c. continuous-flow technologies were cost minimizing only when the inflow of inputs and the sale of outputs proceeded without interruption.
d. larger firms were better able to fight the establishment of labor unions and collective bargaining arrangements.
c. continuous-flow technologies were cost minimizing only when the inflow of inputs and the sale of outputs proceeded without interruption.
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The money-creation multiplier is affected by the
A) public's demand for currency as a proportion of demand deposits. B) bank reserve-holding ratio as a proportion of demand deposits. C) rediscount rate applied to loans from the Fed to banks. D) Both A and B are correct.
A bank's capital is: a. the value of all its assets, including loans
b. the value of all its assets, excluding loans. c. the value of its physical plant, including buildings, computers, and automatic teller machines. d. the difference between its assets and liabilities.