Refer to the table shown. Using the four-firm concentration ratio, the tire industry is best categorized as:IndustryNumber of sellers% of shipments accounted for by the 4 largest companiesTires1595Upholstered furniture2,00015
A. monopolistically competitive.
B. oligopolistic.
C. a pure monopoly.
D. perfectly competitive.
Answer: B
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In the figure above, when production is 3 units with a price of $3, the producer surplus in this market equals
A) b + g. B) f + g. C) a + b + f + g. D) a + b + f + g + h + i.
Which of the following is NOT considered a payment in the balance of payments?
A) capital outflows B) U.S. foreign aid to other countries C) imports of goods D) exports of services
In the short run, the downward slope to the Phillips curve is mainly due to:
a. Differences between expected inflation and actual inflation. b. Differences between actual and expected real GDP growth rates. c. Differences between actual and expected sun spots. d. Differences between actual and expected changes in productivity. e. Differences between actual and expected nominal exchange rate changes.
The nominal rate of interest = _____ + _____.
Fill in the blank(s) with the appropriate word(s).