The four-firm concentration ratio for the cigarette market is 93%. This means that:
A. the four largest firms in the market produce 93% of the total market output.
B. the market is an oligopoly.
C. there is a high degree of concentration in the cigarette market.
D. All of these
Answer: D
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Most bank loans are __________ maturity by the bank because of the __________ in monitoring how the borrower maintains his obligations
A) held to; ease B) held to; difficulty C) sold before; ease D) sold before; difficulty
Assume you borrow funds to buy a new car at 5 percent interest and you think that the economy-wide rate of inflation over the life of the loan will be 4 percent. If you are correct in your assumption, your real rate of interest on the car loan will be
A. 5 percent. B. 4 percent. C. 1 percent. D. 2 percent.
Which of the following statements is true?
A) It is easier to defend an overvalued currency than an undervalued currency since it is possible to print domestic currency and not foreign currency. B) It is easier to defend an undervalued currency than an overvalued currency since it is illegal to print domestic currency. C) It is easier to defend an undervalued currency than an overvalued currency since it is possible to print domestic currency. D) It is easier to defend an overvalued currency than an undervalued currency since it is possible to hold large reserves of foreign currencies.
If government cuts taxes ________
A) national saving goes up B) the equilibrium interest rate would decrease C) discretionary income goes up D) all of the above E) none of the above