An industry with four firms each having a 25% market share would have a Herfindahl-Hirschman Index (HHI) of
A. 25.
B. 100.
C. 250.
D. 2,500.
D. 2,500.
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According to the Monetarists, the money supply is a major factor determining
A) aggregate supply. B) aggregate demand. C) velocity. D) real wages.
Why would a usury law result in banks making less credit available to low-income households?
What will be an ideal response?
When a certain nation abandoned a policy of prohibiting international trade in automobiles in favor of a free-tree policy, the result was that the country began to import automobiles. The change in policy improved the well-being of that nation in the sense that
a. both producers of automobiles and consumers of automobiles in that nation became better off as a result. b. the gains to automobile producers in that nation exceeded the losses of the automobile consumers in that nation. c. the gains to automobile consumers in that nation exceeded the losses of the automobile producers in that nation. d. even though total surplus in that nation decreased, it was still true that consumer surplus and producer surplus increased.
Which of the following is a characteristic of monopolistic competition?
A) few firms B) homogeneous products C) easy entry and exit D) strategic dependence