The total percentage share of industry sales of the four leading firms in an industry is called _____________.
Fill in the blank(s) with the appropriate word(s).
the concentration ratio
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A decrease in the real interest rate occurs when ________
A) there is an autonomous tightening of monetary policy B) expected inflation increases, relative to the nominal interest rate C) a decrease in autonomous spending causes a decrease in equilibrium output D) all of the above E) none of the above
When expansionary monetary policy pushes real interest rates to an artificial low, the Austrian view of the business cycle predicts this will lead to
a. an increase in aggregate demand and a lengthy expansion in real output. b. a recession, followed by a strong and lengthy expansion in real output. c. malinvestment during an economic boom, followed by a recession. d. malinvestment during a temporary recession, followed by a strong and lengthy economic boom.
In the circular flow model, the value of total income for an economy ________ the value of total production
A) equals B) is greater than C) is less than D) may be greater than or less than
One problem with the ripple effect from the Fed's monetary policy is
A) the fact that the monetary policy transmission process is long and drawn out. B) that changing the Federal funds target rate seldom has an effect on the markets for reserves and loanable funds. C) the frequent misalignment of the spread between the Federal funds rate and the Federal funds rate target. D) that the Fed's policy sometimes has a large impact on potential GDP as well as its usual impact on aggregate demand. E) the tight relationship between that the Federal funds rate has to aggregate spending.