The elements of an effective legal system include ________
A) strict limits on the ability of judges to interpret law
B) a temperate climate
C) a large body of legislators
D) an adequate supply of lawyers
D
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In a perfectly balanced oligopoly (with eight firms, all having the same market share), if any one firm captures 1 percent of the market from one of the others,
a. c and d b. the eight-firm concentration ratio will increase c. the eight-firm concentration ratio will decrease d. the Herfindahl-Hirschman index will rise e. the Herfindahl-Hirschman index will fall
Which of the following is consistent with the idea that high money supply growth leads to high inflation?
a. the quantity theory and evidence from four hyperinflations during the 1920's b. the quantity theory but not evidence from four hyperinflations during the 1920's c. evidence from four hyperinflations during the 1920's but not the quantity theory d. neither the quantity theory nor evidence from four hyperinflation during the 1920's
As of 2005 the European Union had:
a. 5 members. b. 15 members. c. 25 members. d. 40 members.
Microeconomics is concerned with inflation or deflation, output growth and unemployment.
Answer the following statement true (T) or false (F)