The Herfindahl-Hirschman Index measures:
A. the degree of concentration in a market.
B. the percentage of market share held by the four largest firms in a market.
C. the percentage of market share held by the largest firm in a market.
D. the market share held by the largest firm in a market divided by the market share held by all other firms in the market.
Answer: A
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A) increases; decreases B) increases; increases C) decreases; decreases D) decreases; increases
In the simple Keynesian model, there are three simplifying assumptions. One of these assumptions is:
A) no consumption B) no investment C) no exports or imports D) a and b E) a, b, and c
Decreasing government spending ______ the price level and ______ equilibrium real GDP.
a. decreases; increases b. increases; decreases c. increases; increases d. decreases; decreases
Game theory was first developed by John Nash.
Answer the following statement true (T) or false (F)