Around the year ______, growth in the world output per head accelerated sharply.
A. 1350
B. 1500
C. 1650
D. 1800
D. 1800
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The Herfindahl index is the sum of the squared market shares of the four largest firms in an industry
a. True b. False
You have some estimates of national accounts numbers for a closed economy for the coming year. Under one set of expectations, government purchases will be $30 billion, transfer payments will be $10 billion, and taxes will be $45 billion. Under another set of expectations, GDP will be $200 billion, taxes will be $50 billion, transfer payments will be $20 billion, consumption will be $120 million,
and investment will be $40 billion. Based on these numbers in the first case there should be a a. $15 billion surplus, and in the second case a $10 billion surplus. b. $15 billion surplus, and in the second case a $30 billion deficit. c. $5 billion surplus, and in the second case a $10 billion deficit. d. $5 billion surplus, and in the second case a $30 billion deficit.
Which of the following statements is true about bonds?
A) Buyers of newly issued bonds are borrowers. B) When the government and large corporations want to borrow money they buy bonds. C) A bond owner must hold a bond until it matures. D) The interest rate on a bond is inversely related to its price.
In Figure 5.3, the most inelastic supply curve:
A. is Supply1. B. is Supply2. C. is Supply3. D. cannot be determined.