Using the above figure, suppose there is a decrease in the number of suppliers. Then
A) the equilibrium price will decrease below $25 per dozen roses.
B) we cannot predict what will happen to equilibrium quantity.
C) the equilibrium quantity will decrease below 10 dozen roses.
D) both the equilibrium price and quantity will increase.
C
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If a person is laid off from a job, he is considered by the Bureau of Labor Statistics to be a
A) job leaver. B) reentrant. C) job loser. D) new entrant.
If the nominal interest rate parity condition is not met,
A) imports will exceed exports. B) the return from holding domestic assets must exceed the expected return from holding foreign assets. C) the return from holding domestic assets must be less than the expected return from holding foreign assets. D) the return from holding domestic assets must be greater or less than the expected return from holding foreign assets.
The Herfindahl-Hirschman Index measures:
A. the degree of concentration in a market. B. the percentage of market share held by the four largest firms in a market. C. the percentage of market share held by the largest firm in a market. D. the market share held by the largest firm in a market divided by the market share held by all other firms in the market.
Refer to the information provided in Figure 4.3 below to answer the question(s) that follow.
Figure 4.3Refer to Figure 4.3. An example of an effective price floor would be the government setting the price of pencils at
A. $0.00. B. $0.40. C. $0.45. D. $0.50.