An industry is comprised of 20 firms, each with an equal market share. What is the four-firm concentration ratio of this industry?
A. 0.8
B. 0.2
C. 0.4
D. 0.6
Answer: B
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Ceteris paribus, which of the following will occur if the Fed buys bonds through open-market operations?
A. The aggregate supply curve should shift leftward. B. The aggregate supply curve should shift rightward. C. The aggregate demand curve should shift leftward. D. The aggregate demand curve should shift rightward.
The greater the MPC is, the ___ the slope of the demand curve.
a. greater b. smaller c. It depends on the trade balance. d. The slope of the demand curve does not depend on this.
The marginal factor cost of a monopsonist is
A) upward sloping and the same as the supply curve. B) downward sloping when the supply curve of labor is upward sloping. C) upward sloping and rises faster than the supply curve. D) horizontal.
What is the name given to the price in a labor market?
A. The supply rate B. The demand rate C. The wage rate D. The equilibrium rate