Which of the following four-firm concentration ratios would be the best indicator of an oligopoly?
A) 0.25 percent
B) 31 percent
C) 78 percent
D) 100 percent
E) 11 percent
C
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What are the two ways in which extractive institutions affect the number of entrepreneurs in a nation?
What will be an ideal response?
Trade theory suggests that Japan would gain from a subsidy the United States provides its grain farmers if the gains to Japanese consumers of wheat products more than offsets the losses to Japanese wheat farmers. This would occur as long as Japan
A) is a net importer in bilateral trade flows with the United States. B) is a net importer of wheat. C) has a comparative advantage in wheat. D) has an absolute advantage in producing wheat. E) is involved in intra-industry trade with the United States.
All economists agree that the firm's only goal is to maximize profit
Indicate whether the statement is true or false
Higher interest rates
A. increase total planned real expenditures because they lower the costs of building new plants and equipment. B. reduce total planned real expenditures because they increase the cost of borrowing funds. C. reduce total planned real expenditures because they reduce the income of bankers and other creditors. D. increase total planned real expenditures because they increase the incomes of all people in the economy.