Suppose there is a market in which the firms hold the following market shares: 25%, 20%, 18%, 15%, 8%, 7%, 4%, 2%, 1%. What is the concentration ratio for this market?
78%
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Refer to Table 8-18. What is real GDP in 2016, using 2016 as the base year?
A) $28,885 B) $11,790 C) $11,200 D) $10,275
If, after she buys a car with air bags, Maria Andretti starts to drive recklessly, that would be an illustration of: a. the moral hazard problem
b. the free rider problem. c. the adverse selection problem. d. the "lemon" problem.
At any given price level, equilibrium GDP on the expenditure side occurs when ____
a. Y = C + I + G ? (X ? IM) b. Y = C + I ? G c. Y = C + I + G + (X ? IM) d. Y = C + X + G + (X ? IM)
Which of the following is true?
a. Specialization and trade leads to mutual gains for countries. b. Protectionism (i.e., policies that limit trade in certain goods) promotes both economic prosperity and greater employment. c. Countries that have a lot of resources, like the United States, are always hurt by trade. d. Countries will have a higher standard of living when they produce as many goods as possible domestically.