The industry concentration ratio measures the
A) value of the assets owned by the largest corporations in the market.
B) percentage of industry sales accounted for by the top four or eight firms.
C) difference between price and marginal cost for the largest firms in the industry.
D) degree of product differentiation in the market.
B
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The above figures show the market for HD televisions. If cable television providers lower the price of providing HD cable service, which figure shows the effect of this change?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the figures represent this change.
Quotas redistribute income from consumers to domestic producers
Indicate whether the statement is true or false
Full employment is the rate of employment that results when:
a. all the labor resources of the economy are employed full time. b. cyclical unemployment has reached its maximum. c. everybody who wants a job can find one. d. only frictional and structural unemployment are present.
Those who view education as a sorting mechanism emphasize that employers value the
A. skills that people who attend college have already acquired before they enter college. B. docility and deference to authority learned in the classroom. C. analytic ability of the highly educated worker. D. work habits picked up in the home and school.