Some economists believe that high concentration within industries is _________, and we should __________
a. c, d, and e
b. terrible; deregulate the industries
c. beneficial; encourage it
d. inevitable; learn to live with it
e. not inevitable; break up monopolies
A
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From one year to the next, a country's output rose from 4000 to 4500, its capital stock rose from 10,000 to 12,000, and its labor force declined from 2000 to 1750. Suppose aK = 0.3 and aN= 0.7
(a) How much did capital contribute to economic growth over the year? (b) How much did labor contribute to economic growth over the year? (c) How much did productivity contribute to economic growth over the year?
Today's exchange rate system can be described as
a. a fixed exchange rate system b. a freely floating exchange rate system c. a pegged exchange rate system d. a flexible exchange rate system e. a managed float
Suppose the index of leading economic indicators begins to decline for several months. Which of the following economic events will likely follow?
a. A recession. b. Severe inflation. c. Greater employment. d. Higher investment.
Farmers can choose to produce eggs and/or milk. If there is a successful advertising campaign for people to "drink milk," then what will be the effect in the egg market?
a. None, since consumers do not see eggs and milk as related goods. b. Egg demand will increase. c. Egg demand will decrease. d. Egg supply will increase. e. Egg supply will decrease.