Consider an industry with 5 firms. Firm A has sales of $6 mil., firm B has sales of $12 mil., firm C has sales of $30 mil., firm D has sales of $50 mil. and firm E has sales of $2 mil. The Herfindahl-Hirschman index for this industry is
a. 3580
b. 3584
c. 2500
d. 3400
e. unknown, not enough information to tell
B
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The term for the Fed's day-to-day technique for controlling the stock of money is
A) discounting operations. B) interest-rate operations. C) liquidity operations. D) open market operations. E) treasury operations.
Cartels are legal in the United States
a. True b. False Indicate whether the statement is true or false
The dominant Keynesian view of the 1960s and 1970s stressed that
A) changes in government spending and budget deficits can help stabilize an economy. B) the "invisible hand" would be sufficient to lift the economy out of an economic downturn. C) government should avoid budget deficits at all times as they may destabilize the economy. D) both budget deficits and surpluses should be small relative to the size of the overall economy.
Since the 1970s, the share of income in the top fifth of households
A. has steadily increased. B. has steadily decreased. C. has remained relatively constant. D. dipped in the 1980s but increased since.