Which of the following can explain why some countries have not experienced relatively high growth rates in real GDP per capita despite relatively low initial levels of real GDP per capita?
A) Countries that are relatively poor are more likely to experience wars and revolutions.
B) Countries that are relatively poor are likely to have a lower quality of health care.
C) Many of these developing countries do not have a functioning court system that can enforce laws.
D) all of the above
D
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Which of the following is least likely to limit the ability of a firm to minimize production costs?
A) Resistance by labor. B) The fact that the firm is a nonprofit organization. C) An increase in the amount of competition faced by the firm. D) Legislated input combinations for firms in particular industries, e.g, health care.
If Verizon Wireless and T-mobile, another wireless service company, were to merge, this would represent
A) a vertical merger. B) a horizontal merger. C) a cartel. D) an up-and-down merger.