________ is the expansion of a firm into stages of production earlier or later than those in which it has specialized
a. Economies of scope
b. Vertical integration
c. Economies of scale
d. Bounded rationality
b
Economics
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Refer to the table shown. In trillions of dollarsConsumption3.5Investment1.2Government Purchases1.8Exports0.6Imports0.4What is the economy's GDP?
A. $7.1 trillion B. $6.7 trillion C. $6.5 trillion D. $6.1 trillion
Economics
In the figure above, if price INCREASES from $40 to $60, an arrow representing the PRICE effect
A. will point upward. B. will point downward. C. will be longer than (and in opposite direction of) the arrow representing the quantity effect. D. will be shorter than (and in the opposite direction of) the arrow representing the quantity effect. E. both a and c
Economics