The four firm concentration is a measure of
a. the percentage of total output of the four largest firms in an industry
b. the total output of the fourth largest firm in an industry
c. the percentage of total sales of the four largest firms in an industry
d. the total output or sales of the four largest firms in an industry
e. either a or c
E
You might also like to view...
Nominal GDP measures the value of goods and services using current-year prices
Indicate whether the statement is true or false
If a bank has $500 in excess reserves and the reserve requirement is 20 percent, then the maximum amount by which this individual bank can increase the money supply is _____
a. $100 b. $400 c. $500 d. $1,000 e. $2,500
Approximately what percentage is any initial movement in the level of output offset by automatic stabilizers?
a. 10 percent b. 15 percent c. 20 percent d. 25 percent
The Pennsylvania Turnpike is a tolled freeway running through the state of Pennsylvania. Motorists must pay tolls at various points along the Turnpike based on the distance they traveled on the freeway. Suppose that despite the tolls, many motorists in the urban areas use the Turnpike causing traffic to slow during peak times. What type of good would the Turnpike be classified as in this case?
a. private good b. club good c. common resource d. public good