Which of the following statements pertains to the four-firm concentration ratio? I. It is the percentage of the value of sales accounted for by the four largest firms in an industry. II
A high concentration ratio is indicative of a high degree of competition. III. The ratio is used to measure product differentiation. A) I only
B) I, II only
C) I, III only
D) I, II, and III
A
You might also like to view...
To shift the RS curve rightward as illustrated, the Fed has ________ government securities in the open market. The Fed will undertake this type of policy if it is concerned about ________
A) sold; recession B) sold; inflation C) bought; recession D) bought; inflation E) None of the above answers is correct.
The impact of higher taxes would be examined by
A) a microeconomist. B) a macroeconomist. C) both a macroeconomist and a microeconomist. D) neither a macroeconomist nor a microeconomist.
Equilibrium GDP
a. is not affected by nominal wage adjustments b. represents the level of output at which public welfare is maximized c. in the long run is equal to the average of the short-run GDP equilibria d. is influenced by long-run adjustments in the labor market e. falls if aggregate demand increases
What are the main characteristics of modern economic growth? What is the effect of modern economic growth on the cultural, social and political arrangements of our times?
Please provide the best answer for the statement.