There are five firms in the cresset industry. The market shares of the five firms are 60 percent, 15 percent, 15 percent, 6 percent, and 4 percent. The Herfindahl index is
a. 96
b. 4,086
c. 10,000
d. 4,102
e. 4,100
D
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What is the opportunity cost of economic growth?
A) current period consumption goods B) land C) current period capital goods D) both current period consumption and capital goods E) both current period capital goods and land
M1 is comprised of currency held outside banks + traveler's checks + __________
A) credit cards B) savings deposits C) gold D) checkable deposits E) money market mutual funds
The environmental problems of China is not caused by
A. a lack of central planning in the economy. B. the burning of low-quality, high-sulfur coal. C. a lack of pollution controls. D. the one-child policy of population control.
When players cannot achieve their goals because they are unable to make credible threats or promises, the situation is called a:
A. prisoner's dilemma. B. failure of dominant strategies. C. Nash equilibrium. D. commitment problem.