Microsoft is a dominant producer of operating system software for personal computers because
A. Linux and OS2 were unstable and vulnerable to frequent security failures.
B. the U.S. Justice Department has always encouraged Microsoft to dominate its market.
C. its Windows product was one of the first to appear in the market.
D. all of the above.
Answer: C
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What would the Herfindahl-Hirschman Index equal for an industry consisting of 20 firms with each holding a 5 percent market share?
A. 20 B. 100 C. 500 D. 2,500
Dave consumes two normal goods, X and Y, and is currently at an optimum. If the price of good X falls, we can predict with certainty that
a. Dave will consume more of both goods because his real income has risen. b. the substitution effect will be positive for good X and negative for good Y. c. Dave may consume more or less of good X, but he will consume less of good Y. d. the substitution effect will offset the income effect for good X.
Which of the following lists contains, in this order, natural resources, human capital, and physical capital?
a. For a restaurant: the land the restaurant was built on, the money it borrowed to buy supplies, the freezers where the chops and steaks are kept. b. For a furniture company: wood, the skills and knowledge of its workers, saws. c. For a railroad: fuel, railroad engines, railroad tracks. d. None of the above is correct.
Which of the following statements is TRUE about education in America?
A. Less than half of our high school graduates can function at the eighth grade level. B. The U.S. has the largest number of engineering students of any country of the world. C. Ninety percent of all PhD's in engineering and sciences awarded in the U.S. are foreign students. D. American's education system is second to none.