In early 2008, the central bank of Zimbabwe announced the inflation rate in that country had reached
a. 60 percent.
b. 80 percent.
c. 220 percent.
d. 24,000 percent.
d
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The above table shows the market shares for all the landscaping services in a suburban area. A merger between firms E and F would
A) raise the four-firm concentration ratio. B) have no effect on the four-firm concentration ratio. C) lower the four-firm concentration ratio. D) create a monopoly.
Assume that CDs are a normal good and that the price of stereo equipment falls while the labor costs of producing CDs increase. What will happen in the market for CDs?
What will be an ideal response?
Among all unbiased estimators that are weighted averages of Y1,..., Yn , is
A) the only consistent estimator of µY. B) the most efficient estimator of µY. C) a number which, by definition, cannot have a variance. D) the most unbiased estimator of µY.
A firm in a perfectly competitive market can maximize its profits by producing:
A. the level of output where marginal cost equals marginal revenue. B. any level below where marginal cost equals marginal revenue. C. any level beyond where marginal cost equals marginal revenue. D. slightly below its maximal capacity.