The United States economy in the mid-2000 . did not experience stagflation because
a. energy prices declined.
b. the energy content of GDP declined.
c. the U.S. economy became more volatile since 1980.
d. all of the above.
b
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Under perfect competition, the market mechanism, without any government regulation, is capable of
A. allocating resources efficiently. B. solving equity problems. C. making the average cost of labor equal to the average cost of all commodities. D. making more income available to the poor.
If the market share of the largest firm in an industry is 50%, then theoretically, the highest possible Herfindahl-Hirschman Index for this industry would be
A. 2,500. B. 5,000. C. 10,000. D. 25,000.
Steven is a career-oriented college student. What should he do to best prepare himself for the tough job market?
a. concentrate completely on schoolwork; no jobs, clubs, or volunteer work b. seek out internships and co-ops in his field c. join a dozen or more college social organizations, so that he can have a resume at least 3 pages long d. all
At the output rate at which diminishing marginal product begins, a firm will experience
A) constant average total costs. B) increasing average fixed costs. C) increasing marginal costs. D) decreasing average variable costs.