The unemployment rate is an important economic statistic that can tell us about the health of the economy. If the unemployment rate turns out to be high or higher than anticipated, we would expect
A) that jobs are less difficult to find.
B) that investors will be more optimistic about the economy.
C) that stock prices are more likely to fall.
D) it is more likely that an incumbent president will be re-elected.
C
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If an industry has a Herfindahl index of 10,000, then
A. the industry is a single firm. B. it is perfectly competitive. C. it is considered a duopoly. D. it is considered an oligopoly.
The Consumer Price Index (CPI) measures the changes of the
A) prices paid by consumers for a fixed market basket of consumer goods and services. B) quantities of a fixed market basket of goods produced by businesses. C) lowest prices paid by consumers for a fixed market basket of consumer goods and services. D) prices paid by all businesses for a fixed market basket of production resources. E) prices paid by consumers and businesses for a fixed market basket of goods and services.
All of the following can cause conflict between divisions EXCEPT
a. Coordination between divisions does not benefit all divisions equally b. managers of profit centers care too little about the effects of their decisions on other divisions c. corporate executives reward managers based on firm profitability instead of divisional profitability d. corporate executives cannot tell when one divisional manager's decisions are appropriate or not
Market power is the ability of a firm to
A. Act as a price taker. B. Advertise. C. Increase the number of substitute goods. D. Control the price and quantity supplied.