Refer to the data. The Herfindahl index for this industry is:
A. 95.
B. 1,000.
C. 2,925.
D. 2,950.
D. 2,950.
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In an economic downturn, sticky wages and prices reduce the economy's speed of adjustment because
A) hyperinflation will likely occur. B) businesses are unable to adjust quickly to changes in aggregate demand. C) they cause deflation. D) union workers would likely quit and look for work elsewhere.
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
According to the matrix shown, how much will be produced if both firms collude?
A. 85 million units B. 70 million units C. 65 million units D. 50 million units
A bank that is liquid:
A. has assets that can be readily converted into cash and money. B. is diversified in its holdings of financial assets. C. can sell short-term bonds to buy long-term bonds. D. has sufficient assets to cover its long-term liabilities.
Scarcity is a situation in which resources are unlimited in quantity and can be used in different ways.
Answer the following statement true (T) or false (F)