The national concentration ratio
A) underestimates concentration for both the newspaper and the automobile industries.
B) overestimates concentration for both the newspaper and the automobile industries.
C) underestimates concentration for the newspaper industry and overestimates it for the automobile industry.
D) overestimates concentration for the newspaper industry and underestimates it for the automobile industry.
C
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Which of the following will shift the supply curve for USB flash drives to the right?
A. an increase in the number of sellers B. an increase in consumers' incomes C. an increase in the cost of resources used to manufacture USB flash drives D. an increase in the number of buyers
If 1 - b = WN/PY where W is the nominal wage rate, N is the quantity of labor input, and PY is total income in nominal terms, then labor's share of national income shrinks if
A) (w - p) > (y - n). B) (w - p) < (y - n). C) (w - n) > (y - p). D) (w - n) < (y - p).
Which of the following is the best example of the concept of "complement"?
A. Coke and Pepsi B. Ramen noodles C. Hot dogs and hot dog buns D. SUVs
Bill Gates is a founder of Microsoft and the world's richest individual. Suppose Microsoft sells more software and Mr. Gates acquires another billion dollars in wealth
Simultaneously, suppose a burglar whose income is well below average broke into Bill Gates' house and stole a million dollars' worth of antiques. Using the "it's not fair if the rules aren't fair" approach to fairness, is Mr. Gates' acquisition of additional wealth fair? Is the (poor) thief's acquisition fair?