If a market is shared equally by four firms, the Herfindahl-Hirschman Index is
A) 1/4.
B) 4.
C) 25.
D) 2,500.
D
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The Sherman Act made cooperative agreements
a. unenforceable outside of established judicial review processes. b. enforceable with proper judicial review. c. a criminal conspiracy. d. a crime, but did not give direction on possible penalties.
Depreciation represents
A. The consumption of capital in the production process. B. Wasted capital. C. Gross investment plus net investment. D. A loss of productive capability as a result of the inefficient use of resources.
What problems remain in advanced countries after the crisis?
What will be an ideal response?
In 1991 the federal government changed the withholding amounts for personal taxes. The change meant that people wouldn't have as much withheld from their paychecks. But there was no change in the tax code itself, so the amount of tax due in April 1992 was not changed. How would consumption and saving respond to this withholding change? (Note: you may assume a real interest rate of 0%.)
What will be an ideal response?