The index that the U.S. government currently uses to determine whether a merger should be allowed is the
a. Herfindahl index
b. Schumpeter index
c. Dow Jones average index
d. consumer price index
e. four-firm concentration ratio
A
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When the Fed wants to lower the federal funds rate, it ________.
A. increases the reserve requirement B. increases the prime rate C. buys bonds from banks and the public D. increases the discount rate
Graphically, producer surplus is the:
A) difference between the demand curve and the price a consumer pays. B) difference between the supply curve and the price a consumer pays. C) difference between total cost and total revenue. D) product of price of a good and quantity sold.
Minimum wage laws are always beneficial to low-wage workers
Indicate whether the statement is true or false
Which of the following implies that an increase in the money supply growth rate permanently changes the unemployment rate?
a. both the long-run aggregate supply curve and the long-run Phillips curve b. the long-run aggregate supply curve, but not the long-run Phillips curve c. the long-run Phillips curve, but not the long-run aggregate supply curve d. neither the long-run Phillips curve nor the long-run aggregate supply curve