There are six firms in an industry, with market shares of 50 percent, 25 percent, 10 percent, 10 percent, 3 percent and 2 percent. The four firm concentration ratio is ________, and the HHI is ________
A) 100; 100
B) 95; 3338
C) 95; 10,000
D) 100; 3338
B
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Increases in ________ typically lead to decreases in ________
A) the interest rate; saving B) disposable income; consumption C) autonomous consumption; consumption D) all of the above E) none of the above
The payment made to an owner of a resource in excess of the opportunity cost of the resource is
a. economic rent b. economic profit c. wages d. interest e. opportunity cost
An increase in government expenditures by $100 (unmatched by an increase in taxes) would, if the MPC = 0.90, result in an increase in real GDP by:
a. $1,000. b. $9,000. c. $900. d. $190. e. inadequate information is given.
Shortages prevail in the market for organ transplants at zero price
a. True b. False Indicate whether the statement is true or false