If an industry's Herfindahl-Hirschman Index is less than 1, the industry is likely to be
A) competitive.
B) an oligopoly.
C) a monopoly.
D) technologically inefficient.
A
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The average total cost curve
A) is U-shaped. B) diminishes initially because average fixed costs diminish. C) increases eventually because of diminishing returns. D) All of the above answers are correct.
Primary reserves and secondary reserves
A. are identical. B. are nearly identical. C. have some overlap. D. have completely different components.
The key region of the brain for principal decision making is the:
A. insular cortex. B. amygdala. C. Nucleus Accumbens (NAcc). D. prefrontal cortex (PFC).
Suppose that in Mysore, the reserve-deposit ratio is res = 0.5 - 2 i,where i is the nominal interest rate. The currency-deposit ratio is 0.2 and the monetary base equals 100. The real quantity of money demanded is given by the money demand function L(Y, i) = 0.5Y - 10i,where Y is real output. Currently, the real interest rate is 5% and the economy expects an inflation rate of 5%. The money multiplier equals
A. 3.00. B. 2.00. C. 2.40. D. 4.00.