Economic growth implies a
A. Rightward shift of the short-run aggregate supply curve.
B. Rightward shift of the aggregate demand curve.
C. Rightward shift of the long-run aggregate supply curve.
D. Leftward shift of the long-run aggregate supply curve.
Answer: C
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The aggregate demand curve gives
A. the total value of nominal GDP in an economy for a year, holding income and technology constant. B. the total amount of real domestic output that will be purchased at each price level. C. the total amount of nominal domestic income that will be purchased at each price level. D. the total value of output produced by workers in both foreign and domestic markets at each price level.
Consider an industry that is made up of six firms with the following market shares: Firm A - 50%, Firm B - 20%, Firms C and D - 10% each, and Firms E and F - 5% each. What is the value of the Herfindahl-Hirschman Index?
A) 2,500 B) 3,150 C) 8,100 D) 10,000
The ________ capital in developing nations causes labor productivity to remain low.
A. subsidized B. increase in privately controlled C. reassignment of D. lack of
Related to the Economics in Practice on page 306: Almost 90 percent of advertisements seen in movie theaters are produced and sold by two firms, National CineMedia and Screenvision. Assume that National CineMedia is responsible for 70 percent of the advertising, Screenvision is responsible for 20 percent of the advertising, and the other 10 percent is produced by one other firm. Based on these numbers, the HHI in this industry would be
A. 100. B. 4,900. C. 5,400. D. 8,200.