Refer to the data. The four-firm concentration ratio for this industry is:
A. 90 percent.
B. 95 percent.
C. 100 percent.
D. indeterminate because we don't know which four firms are included.
B. 95 percent.
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Explain the time-inconsistency problem. What is the likely outcome of discretionary policy? What are the solutions to the time-inconsistency problem?
What will be an ideal response?
Figure 4-18
Refer to . The price of the good would continue to serve as the rationing mechanism if
a.
a price ceiling of $4.00 were imposed.
b.
a price ceiling of $5.00 were imposed.
c.
a price floor of $3.00 were imposed.
d.
All of the above are correct.
Referring to the Production Possibilities Frontiers in Figure 1.10 A, B, C, and D, which depicts specialized growth in soda when there is constant opportunity cost.
Figure 1.10
A. Fig. A B. Fig. B C. Fig. C D. Fig. D
As of 2013, the U.S. monetary base has ________ its 2007 level, the level held before the 2008 financial crisis, as a direct result of ________
A) quadrupled; the Fed's actions with quantitative easing B) doubled; the Fed's actions with quantitative easing C) tripled; the Fed's actions with quantitative easing D) quadrupled; the Fed's actions and the resulting reduction of the money multiplier E) tripled; the Fed's actions and the resulting reduction of the currency drain