Consider two industries in which firms hold the following market shares: Industry A: 25%, 20%, 18%, 15%, 8%, 7%, 4%, 2%, 1% Industry B: 30%, 10%, 9%, 8%, 8%, 8%, 8%, 6%, 6%, 5%, 2% What are the concentration ratios for each industry? Which is more competitive?
78%
57%
Industry B
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According to the information given in the table shown, if someone makes $40,000 in the U.S., what would his salary need to be in Mexico to maintain the same standard of living?
This table shows the price-level adjustment as compared to the United States.
A. $60,606
B. $26,400
C. $40,000
D. $13,600
The natural rate of unemployment
a. is a specific unemployment rate that can be a target for the Fed b. changes as the inflation rate changes c. is natural because it does not change from period to period d. is a measure of the quality of the Fed's performance e. changes as the efficiency of job searches change
Schumpeter believes that monopolies use their economic profit to
a. control prices b. advertise in order to create brand loyalties c. block the entry of new firms d. pay high salaries to its executives e. develop new technologies, which often leads to lower ATC curves and lower prices
The market system is characterized by:
A. extensive government constraints on individual behavior. B. government control of all production decisions. C. government rationing of all goods and services. D. private ownership of the means of production.