The four firm concentration ratio in an industry with ten equally sixed firms is 40%
a. True
b. False
Indicate whether the statement is true or false
True
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Recessions in the U.S. economy show up in economic data as periods of
A) declining prices. B) rising interest rates. C) slower growth or actual decline in nominal GDP. D) slower growth or actual decline in real GDP.
Refer to Table 4-3. The table above lists the marginal cost of cowboy hats by The Waco Kid, a firm that specializes in producing western wear. If the market price of cowboy hats is $50, how many hats will be produced?
A) 0 B) 1 C) 2 D) 4
Institutions that borrow money from savers to lend to borrowers are known as
A) financial markets. B) bond brokers. C) financial intermediaries. D) asset exchanges.
If Egypt can produce 3 silver candlesticks or 120 small silver cups in an hour and Turkey can produce 4 silver candlesticks or 160 small silver cups in an hour then
a. neither country would gain by trading b. the terms of trade or 40 silver cups per one silver candlestick and Egypt should only produce silver cups. c. the terms of trade or 40 silver cups per one silver candlestick and Turkey should only produce silver cups. d. the terms of trade or 40 silver cups per one silver candlestick and Egypt should only produce candlesticks. e. the terms of trade or 40 silver cups per one silver candlestick and Turkey should only produce candlesticks.