In an oligopoly with two firms, one firm's share of the market is 70 percent. The Herfindahl-Hirschman Index is ________
A) 4,900
B) 0.7
C) 5,800
D) 100
C
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John's utility of wealth curve is shown in the above figure. He currently has wealth of $20,000. If there is a 10 percent chance of losing all his wealth, what is the value of insurance against this loss?
A) $0 B) $2,000 C) $3,000 D) $17,000
Refer to Figure 24-1. Ceteris paribus, an increase in households' expectations of their future income would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
Fiscal policy can also contribute to___________________.
a. unemployment b. pollution c. inflation d. global warming
Who benefits primarily from rent? controls?
A) construction workers
B) poor people looking for low-income housing
C) all who want to rent
D) only renters who are able to get units at below-market rates