If the supply of labor ________, real wages rise and the amount of labor employed ________
A) increases; increases B) increases; decreases
C) decreases; increases D) decreases; decreases
D
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If the 4 largest cereal companies' total sales are $19 billion, and the industry's total sales are $55 billion then the Four-Firm Concentration Ratio is
A. 34.55%. B. 2.89%. C. 28.95%. D. 0.35%.
The demand curve facing a monopolistic competitor is
a. a horizontal line at the market price b. upward sloping c. perfectly elastic d. perfectly inelastic e. downward sloping
Which of the following is a regressive tax?
A. a state tax of 5 percent of income B. a local sales tax of 5 percent C. the federal individual income tax D. a federal flat tax of 30 percent
The money supply is $6 million, currency held by the nonbank public is $2 million, and the reserve-deposit ratio is 0.1. The monetary base is equal to
A. $2.4 million. B. $4 million. C. $2 million. D. $2.6 million.