The square of the percentage market share of each firm summed over the 50 largest firms in a market is the
A) elasticity of demand value.
B) elasticity of supply value.
C) Herfindahl-Hirschman Index.
D) four-firm concentration ratio.
E) fifty-firm concentration ratio.
C
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Everything else held constant, an increase in the time deposit ratio will result in ________ in the M1 money multiplier and ________ in the M2 money multiplier
A) an increase; an increase B) no change; an increase C) a decrease; a decrease D) no change; a decrease
According to the traditional Keynesian approach, if the government increases taxes, then
A) real Gross Domestic Product (GDP) will fall and the price level will remain constant. B) real Gross Domestic Product (GDP) will fall but the price level will rise. C) both real Gross Domestic Product (GDP) and the price level will fall. D) real Gross Domestic Product (GDP) will remain constant but the price level will rise.
In the above table, if the marginal factor cost is $48, how many workers would be hired?
A) 3 B) 4 C) 5 D) 6
What would happen to the budget line if income as well as prices of both goods increase by the same percentage?
a. A rightward parallel shift in the budget line. b. A leftward parallel shift in the budget line. c. A rightward shift in the budget line. d. No shift in the budget line.