A(n) ____ can be used to demonstrate why a competitive oligopoly tends to result in a low-price strategy that does not maximize mutual profits.
A. interdependence index
B. gini coefficient
C. herfindahl index
D. payoff matrix
Answer: D
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Because special interest groups tend to favor transfer policies rather than economic growth policies, many economists believe that these special interest groups help to improve economic efficiency.
Answer the following statement true (T) or false (F)
Universal life insurance was created in response to
A) the popularity of whole life insurance. B) the popularity of variable life insurance. C) high interest rates. D) deregulation of banking.
For which of the following firms is patent protection of vital importance?
A) furniture producers B) software firms C) pharmaceutical firms D) auto makers
Related to the Economics in Practice on page 10: A study on the effect of roommates on college grades found that there were strong roommate effects on grade point average, effort in school, and fraternity membership. Which of the following is an example of a normative statement concerning this study?
A. The effects of roommates on fraternity membership are strong. B. The effects of roommates on effort in school are strong. C. The effects of roommates on grade point average are strong. D. In order to maintain a high grade point average, students should only choose roommates who have a high grade point average.