If the Herfindahl-Hirschman Index (HHI) among the firms in the long distance telecommunications market is equal to 855, when would the Federal Trade Commission probably challenge a proposed merger between any two of the firms?
A) It would challenge if the HHI would increase by more than 50 points.
B) It would challenge if the HHI would increase by more than 100 points.
C) It would challenge no matter what happened to the HHI because the market has so few firms.
D) It would not challenge because the HHI is less than 1500.
D
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Refer to Table 11.1. At the equilibrium level of output, y*, what is the trade balance?
A) -1,345.00 B) -985.00 C) -276.25 D) -186.25
Barry Bonds and Jennifer Lopez have which of the following in common?
A) Neither of them faces the problem of scarcity. B) Each of them acts solely in the public interest. C) Each of them chooses to advance some projects over others. D) None of the above.
Monetarists have received this label because they emphasize the role of the
A. money supply in determining aggregate supply. B. money supply in determining nominal GDP. C. Fed in making monetary policy. D. money supply in determining interest rates and investment.
The use of expansionary fiscal and monetary policy just prior to elections is known as the ________
A) electoral college B) time-inconsistency problem C) Watergate scandal D) political business cycle