____ 45. Nominal GDP (gross domestic product) is calculated with A. current prices. B. the previous year's prices. C. constant prices. ____ 46. A business owned by two or more people with specific division of responsibilities and profits is a sole proprietorship. A. true B. false ____ 47. Aggregate __________ is the total amount of goods and services in the economy that will be purchased at all possible price levels. A. supply B. demand ____ 48. What is a horizontal merger? A. Firms involved in different stages of production join together. B. A firm gains the ability to control all stages of production. C. Two firms that manufacture the same product join together. ____ 49. If a corporation issues 1,000 shares of stock, and you buy seven shares, you own __________ of the corporation. A. 70 percent B. 7 percent C. 7 / 1,000 ____ 50. In the peak stage of a business cycle, A. economic growth rises. B. real GDP stops rising. C. economic growth reaches its lowest point