Which of the following is the best example of a vertically integrated firm?
a. General Electric, which produces light bulbs, jet engines, washing machines, and so on
b. Kinko's, which has a photocopy store near many colleges and universities
c. USX Corporation, which owns ore and coal mines, coke ovens, blast furnaces, mills, and foundries
d. Intel, which makes computer chips for most of the computer manufacturers
e. Century 21, which has real estate offices that help people sell a house in one city and buy another house in another city
C
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In the money market, if real GDP increases, then the demand for money ________ and the equilibrium nominal interest rate ________
A) decreases; rises B) decreases; falls C) increases; falls D) increases; rises E) increases; does not change
Marginal labor cost is measured by
a. MR × price b. MR × MC c. change in TR / change in MPP d. change in TC / change in labor hired e. change in TC / change in MPP