The Department of Justice guidelines suggest that the government not interfere with mergers that occur in industries with a Herfindahl-Hirschman Index that is
a. 0
b. 100
c. less than 1,000
d. more than 1,000
e. more than 1,800
C
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The goal of internal balance includes
A. a reasonable and sustainable balance of payments with the rest of the world. B. low interest rates. C. full employment of resources. D. exchange rate stability.
The Widgetville County Wolfpack has won 90 percent of their last 20 games played under a full moon. This means:
A. there is a positive correlation between their play and the occurrence of a full moon. B. the weather affects how they play. C. that causation can be found between the two events. D. that full moons cause the team to play better.
In Figure 2.1, Box 4 would be labeled
A. P for price. B. D for demand. C. Q* for equilibrium quantity. D. S for supply.
Suppose Firm A and Firm B are considering whether to invest in a new production technology. For each firm, the payoff to investing (given in thousands of dollars per day) depends upon whether the other firm invests, as shown in the payoff matrix below.
Is this game a prisoner's dilemma?
A. No. B. Yes. C. It cannot be determined. D. Only when both Firm A and Firm B invest.