Which of the following has contributed to decreased concentration in U.S. industry since the 1970s?
a. rising interest rates and disinflation
b. segmentation and economies of scale
c. devaluation and economies of scale
d. technological change and market globalization
e. marginal cost pricing and product differentiation
D
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Explain briefly why U.S. Steel prefers to own its mines, enrichment facilities, and ore carriers
The law of one price (LOOP) indicates that:
a. Nominal interest rates in countries should be identical because if they were not, arbitragers could make risk-free profits. b. The price of a good in one country should be equal to the exchange-rate-adjusted price of the same product in another country. c. The quantity produced of a good in one country should be equal to the exchange-rate-adjusted quantity produced of the same product in another country. d. The nominal wage rate in one country should be equal to the exchange-rate-adjusted wage of the average laborer in another country. e. All the above.
Most economists use the aggregate demand and aggregate supply model primarily to analyze
A. short-run fluctuations in the economy. B. the effects of macroeconomic policy on the prices of individual goods. C. productivity and economic growth. D. None of the above is correct.
If an increase in disposable income causes consumption to increase from $4,000 to $10,000 and causes saving to increase from $2,000 to $4,000, it can be inferred that the MPC equals
A. 0.5. B. 0.75. C. 0.4. D. 0.6.