The Herfindahl-Hirshman Index is a method for determining ______.
a. whether or not price fixing is occurring
b. compliance with import tariff laws
c. an industry’s market concentration
d. how much collusion exists in an industry
c. an industry’s market concentration
You might also like to view...
The figure above shows the labor market in a region. In which of the following cases would the amount of unemployment be the largest?
A) when the market is at its equilibrium, with no minimum wage B) when a minimum wage of $4 an hour is imposed C) when a minimum wage of $6 an hour is imposed D) when a minimum wage of $8 an hour is imposed E) None of the above because the market will adjust so that there is no unemployment.
According to supply-side theory, which of the following will shift the aggregate supply curve to the right?
A. A reduction in discrimination. B. A higher minimum wage. C. A reduction in spending on education. D. Higher marginal tax rates.
An economist looks at data that suggests that people are making decisions that are based on rules of thumb. She concludes that people tend to make decisions that are based on habit and not on the economic decision rule. She is most likely a(n):
A. behavioral economist. B. irrational economist. C. traditional economist. D. engineering economist.
As an economy moves from point to point along its production possibilities curve, which one of the following variables changes?
A. the level of technology B. the amount of each good or service produced C. the level of efficiency of some factors of production D. the total amount of resources employed