The goal of all regulation is the creation of perfectly competitive markets
a. True
b. False
Indicate whether the statement is true or false
False
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Macroeconomic policies are government policies designed to affect: A. the environmental impact of all industries.
A. particular sectors of the economy. B. the performance of the economy as a whole. C. the economic activity of the government.
Each of the four firms in an industry has a market share of 25 percent. The Herfindahl-Hirschman Index equals
A) 3,600. B) 100. C) 625. D) 25. E) 2,500.
Since people respond to incentives, we would expect that, if the average salary of accountants increases by 50% while the average salary of teachers increases by 20%, then
a.fewer students will take degree courses in accounting and more will take education courses. b.fewer students will take degree courses in education and more will take accounting courses. c.fewer students will attend university. d.none of these answers.
Investment in human capital
A. is not comparable to other investments in any way since human capital is embodied in the person. B. is quite different from and has a much lower return than investment in physical capital. C. is just like investment in physical capital but has a much greater return than do other investments. D. is just like investment in physical capital and has a return similar to that earned from other investments.