The concentration ratio of an industry is a measure that captures the share of the industry’s total output that is produced by its four largest firms.
Answer the following statement true (T) or false (F)
True
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Suppose that the ratio of retirees to working citizens is currently 1 to 5, meaning that there are 5 working people for every retiree. Suppose that in thirty years the ratio will change to 1 to 2. If benefits remain the same, what will happen to the tax rate assuming retirees are provided benefits in a pay-as-you-go system? How much would benefits decrease if the tax rate remained the same?
What will be an ideal response?
Which type of curve results when oligopoly firms agree to match each other’s price cuts, but not to match price increases?
a. Market dilemma curve b. Average cost curve c. Bent supply curve d. Kinked demand curve
In the loanable funds market model, the demand curve represents:
a) borrowers. b) taxes. c) savers. d) the budget balance.
People who buy foreign currency for the sole goal of selling it at a profit are called:
A. numismatists. B. currency hedgers. C. currency manipulators. D. currency speculators.