Which of the following is a measure of the degree of industry concentration?
A. Dow Jones Industrial Index
B. Herfindahl Index
C. Employment Cost Index
D. S&P-500 Index
B. Herfindahl Index
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Income taxes paid by corporations are
A) the major source of revenue for the federal government. B) the major source of revenue for state governments. C) the major source of revenue for local governments. D) about 9 percent of the federal government's revenue. E) the major source of expenditure by the federal government.
In economics, scarcity means that
A. Society's desires exceed resources available. B. The market mechanism has failed. C. A production possibilities curve cannot accurately represent the trade-off between two goods. D. A shortage of a particular good will cause the price to fall.
Recall the Application about price discrimination using refillable soda bottles to answer the following question(s).According to the Application, how does the firm earn a larger profit through the refillable soda bottles?
A. The consumers who were not likely to buy the soda get a lower price, making them more likely to purchase soda. B. The seller saves money from recycling the disposable bottles. C. The seller earns more revenue from sale of the expensive recyclable bottles. D. The consumers advertise to friends that the seller gives discount through refillable bottles, causing an increase in demand.
GDP statistics do not reveal anything about
A. the economy's production of goods and services. B. economic growth. C. global warming's impact on the economy. D. productivity.