Suppose an industry is composed of 10 firms. Each firm's share of total sales in the industry is 10 percent. If two of the firms merge, then the four-firm concentration ratio in the industry will
A) remain unchanged.
B) decrease as there are fewer firms in the industry.
C) increase.
D) depend on the market condition faced by the industry.
C
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A characteristic of the inflation rate is that ________
A) it typically goes down in a boom B) it typically goes up in a recession C) it is a lagging indicator D) all of the above E) none of the above
A reserve ratio of 10% means that the deposit expansion multiplier is _________.
Fill in the blank(s) with the appropriate word(s).
One can determine producers' surplus if the minimum selling price and the _____________ are known
A) price received B) price paid C) tax paid D) tax received E) a and c
Models of growth that account for technological progress are part of:
A. creative destruction theory. B. new growth theory. C. growth accounting. D. All of these.