What are beliefs about what is right and wrong or good and bad called?
A) motivators
B) rules
C) cultures
D) ethics
E) laws
Answer: D) ethics
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The Herfindahl-Hirschman Index is one factor used to determine whether a merger between two firms should be allowed. Which of the following statements regarding the value of the Index for a given industry is true?
A) If a merger resulted in an Index of between 1,000 and 1,800, the industry would be considered competitive and the merger would not be challenged. B) If a merger would result in an Index value of 1,000 or more, the industry would be considered a monopoly and the merger would be challenged. C) If a merger would result in an Index value less than 1,000, the merger would not be challenged. D) If a merger would increase the Index by 100, the industry would be considered a monopoly and the merger would be challenged.
Which one of the following statements about public debt is most accurate? a. Poor people are burdened by the debt because they pay more in taxes than they receive in interest
b. Poor people gain from the debt because they pay less in taxes than they receive in interest. c. Wealthy people are burdened by the debt because they pay more in taxes than they receive in interest. d. Wealthy people gain from the debt because they pay less in taxes than they receive in interest. e. The debt affects the poor and rich people equally.
A model that is an oversimplification for one purpose will likely be an oversimplification for other purposes as well.
Answer the following statement true (T) or false (F)
If tariffs are decreased, the long-run effect is most likely to be
a. a decrease in both U.S. imports and exports.
b. an increase in both U.S. imports and exports.
c. a decrease in U.S. imports and an increase in U.S. exports.
d. an increase in U.S. imports and a decrease in U.S. exports