A change in input prices will change the location of the firm’s budget line.
Answer the following statement true (T) or false (F)
True
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According to the above table, the four-firm concentration ratio of this industry is
A) 69.2 percent. B) 35.1 percent. C) 66.7 percent. D) 67.5 percent.
Usury laws are designed to ensure that interest rates in the market do not exceed acceptable norms.
Answer the following statement true (T) or false (F)
What or who backs the value of fiat money?
a. The power of the state b. Gold and silver owned by the large commercial banks c. Foreign exchange held by the central bank d. Gold and silver owned by general public.
Consider the following information for a family. The income for the family is $58,000; if the MPS is 0.25, and the income for the family decreases by $15,000, then the decrease in consumption will be:
a. $3,750. b. $10,500. c. $11,250. d. $1,500.