Which of the following has the highest Herfindahl-Hirschman index?
A. monopolistic competition
B. oligopoly
C. monopoly
D. any of these, depending on the size of firm sales
Answer: C
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The decline in traditional banking internationally can be attributed to
A) increased regulation. B) improved information technology. C) increasing monopoly power of banks over depositors. D) increased protection from competition.
The leakage and injections approach implies that deficit spending by the government must be financed by
A) private investment less private savings plus net exports. B) private saving less private investment plus net exports. C) the trade deficit must always offset the government deficit. D) B and C.
Assuming that the demand and supply of a good both decreased by the same amount, the new equilibrium would represent:
a. an increase in price and an increase in quantity exchanged. b. no change in price and an increase in quantity exchanged. c. a decrease in price and a decrease in quantity exchanged. d. no change in price, and decrease in quantity exchanged.
Phoenix is a schoolteacher. In which of the following situations is she experiencing diminishing marginal utility?
a. She loves her whiteboard, but when she receives a second one for her classroom, she finds she rarely uses it. b. She buys extra crayons for her class using her own money because her students use up crayons so quickly. c. She complains to the administration that she does not have enough supplies for her classroom; she has 32 students this year! d. She realizes that it would be useless to purchase electronic tablets for the classroom unless she buys enough for the entire class.