The four-firm concentration ratio cannot have a value above 1.0.
Indicate whether the statement is true or false.
Ans: True
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C
The figure above shows short-run cost curves for a perfectly competitive firm. If the price of the product is $8 and the firm does not shut down, the firm's output in the short run
A) will be 0. B) will be between 0 and 10. C) will be 10 or higher. D) cannot be determined without more information.
Normative economics is
a. an event is explained according to the laws of economics. b. an explanation of the way things ought to be, the explanation involves a value judgement on the part of someone. c. the study of foreign countries. d. the study of our banking system.
Using the growth accounting equation, if the growth rate of out is 5%, the growth of labor is 3% and the growth of capital is 2% then if α=0.75 then growth of technology can be estimated to be:
A. 4.25%. B. 4.00%. C. 3.00%. D. 2.75%.