Which of the following are measures of industry concentration?
A. Four-firm concentration ratio
B. Four-firm concentration ratio and HHI index
C. Consumer surplus
D. HHI index
Answer: B
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Phillip is going for a job interview. He will have a higher bargaining power if:
A) he is the only applicant. B) there are several applicants. C) no other company has a job opening. D) he is a college freshman.
The Lorenz curve maps:
A. the cumulative percentage of the population against the cumulative percentage of income earned by those people. B. each quintile of the population in order of income-earned against the average income earned by those people. C. GDP per capita against what people really earn by quintile. D. None of these describes what the Lorenz curve maps.
Which of the following is an appropriate monetary policy if the Fed wants to increase the money supply?
a. An increase in the required reserve ratio. b. An increase in the discount rate. c. Purchases of bonds in open market operations. d. Higher taxes on interest income.
An expansionary (or loose) ___________ policy raises the quantity of money and credit above what it otherwise would have been and reduces interest rates, boosting aggregate demand, and thus countering recession.
a. monetary b. domestic c. trade d. banking