Adding together the market share of the largest firms in an industry results in the concentration ratio for a market.
Answer the following statement true (T) or false (F)
True
The standard measure of market power is the concentration ratio. The concentration ratio is a measure of market power that relates the size of firms to the size of the product market.
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Financial deregulation and innovation in the United States has greatly ________ the variety of financial market instruments savers can choose from and has also ________ the dominance of banks among the financial intermediaries
A) reduced, increased B) reduced, reduced C) increased, increased D) increased, reduced
Assume that Sweden will specialize in either boats or cars. What is their opportunity cost of producing two boats?
Industries which receive government protection from trade pressures are likely to exhibit all of the following except
a) high levels of employment b) low levels of productivity c) a high proportion of unskilled workers d) monopoly power e) comparative advantage
More than one in four African-Americans lives in poverty.
Answer the following statement true (T) or false (F)