Markets in which the Herfindahl-Hirschman index ________ are considered moderately concentrated
A) is less than 1,000
B) is zero
C) is between 1,000 and 1,800
D) is above 1,800
C
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Growth in GDP systematically understates the growth in national well-being because
A. ecological costs are netted out of GDP. B. “bads” as well as “goods” get included in GDP. C. investment is not included in GDP. D. as a country gets richer, leisure time increases.
The expenditure multiplier equals 5 and there is a $3 million increase in investment. Equilibrium expenditure
A) increases by $5 million. B) increases by $0.60 million. C) increases by $15 million. D) decreases by $15 million. E) increases by $3 million.
At the start of the Civil War, the population in the U.S. was about half that of the United Kingdom
Indicate whether the statement is true or false
Which of the following is an example of a factor of production?
a. rent b. interest c. land d. Social Security payments