In short-run equilibrium, it is always true that
A) quantity demanded of Real GDP = quantity supplied of Real GDP = Natural Real GDP.
B) quantity demanded of Real GDP > quantity supplied of Real GDP.
C) quantity demanded of Real GDP = quantity supplied of Real GDP.
D) a and b
E) There is not enough information to answer the question.
C
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Suppose a ten firm industry has total sales of $35 million per year. The largest firm have sales of $10 million, the third largest firm has sales of $4 million, and the fourth largest firm has sales of $2 million
If fifth through tenth largest firms combined have annual sales of $12 million, the four-firm concentration ratio for this industry is A) 45.7 percent. B) 80 percent. C) 65.7 percent. D) none of the above.
Streaming Netflix movies would be considered:
A. a common resource. B. a private good. C. a public good. D. an artificially scarce good.
Some economists have proposed a new definition of money that would better track money demand. One such measure is the MZM or "money zero maturity." What kind of items will be included in this measure?
A) Assets that have no maturity such as cash, checking accounts, and shares of stocks. B) Assets that can be converted to cash with zero penalty and securities that are issued by the U.S. government since these are virtually risk free. C) Any deposits that do not have specified maturity terms, just as long as these deposits are fairly liquid and are used by consumers to pay for transactions. D) Liquid accounts held by the public, regardless of whether they are classified as M1 or M2 and the reserves of banks that earn no interest since these could be used to create money.
Money only consists of coins, paper money, and checkable deposits.
Answer the following statement true (T) or false (F)