Which of the following is characteristic of firms operating in an oligopoly market?
a. either homogeneous or differentiated products
b. mutual interdependence among firms
c. significant barriers to entry
d. All of the above characterize oligopoly firms.
d
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What is the difference between a four-firm concentration ratio and a Herfindahl-Hirschman Index?
What will be an ideal response?
The prosperity of a nation today is typically measured by its: a. total output or gross national product
b. real output per capita. c. gold reserves. d. proportionate share of international trade.
The highest quintile of households in the income distribution:
A. receives about 51 percent of the total income. B. is comprised of 10 percent of all households. C. is comprised of 5 percent of all households. D. receives about 43 percent of the total income.
An example of a(n) ________ comparative advantage is that some U.S. consumers prefer German beer over American beer because German beer has a reputation for tasting better.
A. acquired B. natural C. subsidized D. unwarranted