The measurement of industry concentration which calculates the percentage of all sales contributed by a specific number of leading firms is called the
A) Herfindahl-Hirschman Index.
B) concentration ratio.
C) producer price index.
D) P/E ratio.
B
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Which of the following holds true, if goods sell for the same price worldwide when converted to a common currency?
a. A high rate of inflation exists. b. A fixed exchange-rate system exists. c. Purchasing power parity exists. d. The foreign exchange market is in equilibrium. e. Arbitrage opportunities exist.
Special-interest programs are highly attractive to vote-seeking politicians because
What will be an ideal response?
Which of the following is NOT a function of the Fed?
A. acting as government's fiscal agent B. offering credit and loans to the U.S. public C. providing a system of check collection and clearing for depository institutions D. regulating the money supply in the economy
The shutdown point for a perfectly competitive firm is the
A. lowest point on the ATC curve. B. point at which a firm's long-run supply curve ends. C. lowest point on the marginal cost curve. D. lowest point on the AVC curve.