A working knowledge of both markets and firms is important for managers to be effective because it
A. helps them train their subordinates better.
B. helps them earn high bonuses.
C. helps them make appropriate strategic and operational decisions.
D. helps them to exploit other executives.
Answer: C
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The Herfindahl-Hirschman Index measures market concentration in an industry by summing the square of the percentage market shares for
A) the 4 largest firms. B) the 50 smallest firms. C) the 4 smallest firms. D) the 50 largest firms. E) all firms in the market.
When considering the velocity of money, the Federal Reserve is most concerned about its
A) stability. B) absolute size. C) determinants. D) sign.
Which of the following combinations of characteristics best describes a monopolistically competitive firm?
A. Supplies a small share of the market and sells a product that is undifferentiated from other firms in the market. B. Supplies a large share of the market and sells a product that is undifferentiated from other firms in the market. C. Supplies a small share of the market and sells a product that is slightly different than its competitors. D. Supplies a large share of the market and sells a product that is slightly different than its competitors.
Structural unemployment is often thought to explain relatively long spells of unemployment
a. True b. False Indicate whether the statement is true or false