The concentration ratio for an industry can be increased almost overnight by
a. collusion among the leading four firms
b. the creation of a cartel
c. a conglomerate merger
d. a vertical merger
e. a horizontal merger
E
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Technological changes that increase the productivity of skilled workers relative to that of unskilled workers are referred to as:
A) skill-biased technological changes. B) labor-saving technological changes. C) unskilled-biased technological changes. D) labor-complementary technological changes.
The effect of a decrease in the price of personal computers, other things constant, is likely to be best represented by which of the following?
a. a leftward shift of the demand curve b. a movement leftward along the demand curve c. a rightward shift of the demand curve d. a movement rightward along the demand curve e. a rightward shift of the supply curve
Thomas Malthus argued that population grows geometrically and the food supply grows arithmetically
a. True b. False
Which of the following is a Keynesian approach for dealing with a recession?
A. Raise taxes. B. Raise interest rates. C. Increase supply incentives for producers. D. Increase government expenditure.