By the late 1950s, dollars held by foreign central banks exceeded the official dollar value of U.S. gold reserves

Refer to Figure 16.1. If a firm expects that consumer preference for its product will increase in the future, this is best represented by a movement from

A) point A to point C. B) point B to point A. C) point A to point B. D) point C to point A.

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.