Calculate the Herfindahl-Hirschman Index in this industry
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Use the above table. Assuming constant opportunity costs, a comparative advantage in producing beef is possessed by
A) neither Argentina or France. B) both Argentina and France. C) Argentina. D) France.
Which of the following is true?
a. The United States is rich because it has democratic political institutions. b. Economic growth is primarily the result of gains from trade, discovery of better ways of doing things, and capital investment. c. Without foreign aid, poor countries are unable to break the cycle of poverty, low savings and investment, and economic stagnation. d. Most all countries with an abundance of natural resources have been able to achieve rapid growth and high levels of per capita income.
Mary Jane is willing to babysit for $6 an hour. Her neighbor has asked her to babysit for $8 an hour. Assuming Mary Jane accepts the offer:
A. her economic rent will be $2 per hour. B. her consumer surplus will be $2 per hour. C. her accounting profit will be $8 per hour, and her economic profit will be $0 per hour. D. her economic profit will be $8 per hour.
If the economy is in a recession, the full-employment deficit is ________ the actual deficit.
A. equal to B. smaller than C. larger than D. equal to or larger than