An industry with Herfindahl-Hershman Index of 10,000 would best be described as
A. oligopoly.
B. perfect competition.
C. monopolistic competition.
D. monopoly.
Answer: D
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If firms successfully gather information about consumers before offering them insurance, and if this leads to a separating equilibrium, efficiency is restored.
Answer the following statement true (T) or false (F)
For a borrower, an increase in the real interest rate
A) definitely reduces current consumption and increases future consumption. B) reduces current consumption and has an uncertain effect on future consumption. C) has an uncertain effect on current consumption and increases future consumption. D) has an uncertain effect on both current and future consumption.
The unemployment rate of today is significantly lower than that rate one hundred years ago
Indicate whether the statement is true or false
Overfishing and extinction of species arise because of:
a. an abundance of natural resources. b. communist countries. c. the lack of incentive to take care of these species. d. private ownership of these resources. e. a high degree of economic freedom in all countries.