Measures of concentration
A) refer to the concentration of customers in a certain area.
B) measure whether the market is dominated by a small number of firms.
C) measure the concentration of a large number of firms in a certain area.
D) have high values for perfect competition.
E) measure how concentrated a firm's sales are among certain types of goods.
B
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Who of the following is counted as unemployed?
A) Rene, a retired chemist B) Homer, a full-time student at a vocational school C) Kim, a worker on strike from her company for a week D) Glenn, a student who just graduated from college last week and is currently looking for a job
When the government establishes a minimum price for an agricultural product above the equilibrium price, the government is creating a(n)
A) price ceiling. B) elevated price. C) price floor. D) surplus price.
The number of satellite dishes increased by 50 percent when the average monthly price of cable TV increased by 10 percent. Assuming that other factors are held constant, satellite dishes and cable TV are classified as:
a. complements. b. unrelated goods. c. substitutes. d. social goods.
In the loanable funds market which of the following is true? a. Borrowers represent supply and government represents demand. b. Borrowers represent supply and banks represent demand
c. Banks represent supply and savers represent demand. d. Savers represent supply and borrowers represent demand.