An industry consists of three firms with equal annual sales. What is the industry's HHI?
A. 10,000
B. 2,000
C. 3,300
D. There is not sufficient information to compute the industry HHI.
Answer: C
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The Civil Rights Act of 1964 in the United States led to _____
a. the introduction of the concept of discrimination. b. complete elimination of discrimination from the labor force. c. the creation of equal opportunities for men and women. d. the creation of equal opportunities for the members of different races. e. the establishment of a much clearer definition of discrimination.
Which of the following people is employed?
a. Kevin, a 12 year old, who is working at a bakery to pay his tuition bills b. Jack, an employee who was fired last month, not actively looking for a paid job c. Kate, a software engineer, who is working as a software developer d. Dave, an economics graduate, who will join his new office after a month
If entry-restricting legal barriers effectively organized the funeral home industry of a large city into a monopoly cartel, economic theory indicates that, compared to the previously competitive situation,
a. the price of funeral services would decline, and output would increase. b. both the price and output of funeral services would decline. c. the price of funeral services would increase, and output would decline. d. both the price and output of funeral services would increase.
Back-loading of employees' wages helps a company because:
a. they act as incentives for employees to work hard throughout their tenure with the company. b. they completely eliminate all sorts of opportunistic behavior on the part of the employee throughout his/her tenure with the company. c. they reduce the actual cost burden of the employee on the company. d. they prevent opportunistic behavior on the employer's part.