A highly oligopolized industry would have a ______ Herfindahl-Hirschman Index and a ______ concentration ratio.
A. high; high
B. low; low
C. high; low
D. low; high
A. high; high
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If the supply curve for housing has the usual positive slope, rent controls are likely to
A. increase the quantity of housing. B. improve the quality of housing. C. aggravate the housing shortage. D. help low-income families find suitable housing. E. increase the demand for housing.
If disposable income is $400 billion, autonomous consumption is $60 billion, and MPC is 0.8, what is the level of saving?
a. $20 billion. b. $210 billion. c. $380 billion. d. $590 billion. e. $780 billion.
If the economy is self-regulating and current Real GDP is greater than Natural Real GDP, the economy is operating __________ the natural unemployment rate and wages will soon __________
A) below; fall. B) above; fall C) below; rise D) above; rise E) none of the above
Price discrimination is welfare reducing
A) False, price discrimination can increase the coverage of a market thereby increasing welfare. B) False, price discrimination limits the coverage of a market thereby increasing welfare. C) True, price discrimination limits the coverage of a market thereby increasing welfare. D) True, price discrimination can increase the coverage of a market thereby increasing welfare.