The governmental expense of a farm price support tends to diminish as the price of the good rises.
Answer the following statement true (T) or false (F)
True
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Which of the following statements about the Herfindahl-Hirschman Index is CORRECT?
I. It is the square of the percentage market share of each firm summed over the largest 50 firms (or summed over all the firms if there are fewer than 50 ) in a market. II. A small index is indicative of a high degree of competition. III. The index is used to measure the degree of competition. A) I only B) I, II only C) I, III only D) I, II, and III
The official reserve account includes all of the following EXCEPT
A) gold. B) SDRs. C) foreign currencies. D) silver and other precious metals.
Which of the following economies have the highest degree of economic freedom?
a. Hong Kong and Singapore b. Argentina and Brazil c. Germany and Italy d. Russia and Nigeria
If helen can paint one room in the time it takes her to bake 40 cakes and josh can paint one room in the time it takes him to bake 60 cakes, josh's opportunity cost of baking one cake is
a. ?painting one room. b. ?painting 1/40 of a room. c. ?painting 1/60 of a room. d. ?painting 2/3 of a room. e. ?painting 3/2 of a room.