Efficiency and equity are synonymous.
Answer the following statement true (T) or false (F)
False
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The table above lists the market shares of the twenty makers of personal computers. The Herfindahl-Hirschman Index for this industry equals
A) 5. B) 250. C) 1250. D) 500.
Compare and contrast the predictions of the Heckscher-Ohlin and classical models about likely trading partners of various countries with the predictions of the Linder hypothesis
What will be an ideal response?
Proponents of the new growth theory argue that which of the following is a determinant of economic growth?
A) An effective system of patent protection B) The quality and size of the nation's educational system C) The proportion of income that goes into research and development D) All of the above
Two economists from Ohio University estimated that the demand curve for kerosene in Indonesia was such that a 10 percent increase in the price reduced the quantity demanded by 2.2 percent and that a 10 percent increase in the price of electricity increased the demand for kerosene by 1.6 percent. This indicates that (i) the demand for kerosene is price inelastic and (ii) kerosene and electricity
are substitutes. Which of these two statements is correct? a. i and ii b. i not ii c. ii not i d. neither i nor ii