Historically, most harmful bubbles are characterized by
a. investment in stocks.
b. the sale of Treasury bills.
c. heaving borrowing.
d. reliance on technology.
c
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Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the area representing producer surplus after the imposition of the price floor?
A) B + C + D + E + F B) A C) B + D + F D) C + E
When economists disagree about whether legislation is a good idea, even when they agree about its impacts, the disagreements are usually over
a. normative issues b. positive issues c. the mathematical calculations in an economic model d. whether microeconomics or macroeconomics is more important e. whether economic theory is useful in explaining the behavior of actors in the economy
An industry is comprised of 20 firms, each with an equal market share. What is the four-firm concentration ratio of this industry?
A. 0.8 B. 0.2 C. 0.4 D. 0.6
Consumption depends solely on income.
Answer the following statement true (T) or false (F)