The Herfindahl-Hirschman Index is
A. An example of government failure.
B. A way to account for the combined market share of the top four firms.
C. A barrier to entry.
D. Used to identify cases worthy of antitrust concern.
Answer: D
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Public choice analysis indicates that it will be politically more attractive to
a. enact restrictive fiscal policy during an economic expansion than to enact expansionary fiscal policy during a recession. b. enact expansionary fiscal policy during an economic expansion than to enact restrictive fiscal policy during a recession. c. enact expansionary fiscal policy during a recession than to enact restrictive fiscal policy during an economic expansion. d. raise taxes than to increase spending.
Explain why the availability of resources affects the elasticity of supply
What will be an ideal response?
When a firm's competitors cut their prices when the firm does, but do not raise their prices when the firm does, the result is that the firm has a kinked demand curve
Indicate whether the statement is true or false