The Herfindahl-Hirschman (HH) Index is used to
A) measure the degree of nonprice competition.
B) measure the degree of market concentration in an industry.
C) measure the extent of price leadership.
D) None of the above
B
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Suppose firms in a perfectly competitive market are incurring an economic loss. As firms exit, the price ________ and the economic loss of the surviving firms ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases
Oksana deposits $90,000 at Flynn Bank. Flynn Bank has a required reserve ratio of 15 percent. How much money could Oksana’s deposit potentially create?
a. $76,500 b. $90,000 c. $600,000 d. $13,500
Which of the following is true of R2?
A. R2 is also called the standard error of regression. B. A low R2 indicates that the Ordinary Least Squares line fits the data well. C. R2 usually decreases with an increase in the number of independent variables in a regression. D. R2 shows what percentage of the total variation in the dependent variable, Y, is explained by the explanatory variables.
In understanding and analyzing "market supply," we focus on how much all firms
A. will supply in the future at various prices. B. want to supply at a given price. C. are willing and able to supply at different prices. D. have sold in the recent past at various prices.