If an industry has 25 firms that collectively have $150 million in total sales and the top four firms in this industry account for $90 million in sales, what is the concentration ratio of the top four firms in this industry?
A) 42 percent
B) 60 percent
C) 70 percent
D) 80 percent
B
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If a rapid disinflation has a lower sacrifice ratio than a slow disinflation, then reducing inflation is best accomplished by
A) gradualism. B) increasing money growth. C) reducing interest rates. D) a cold-turkey approach.
Monetary and price instability will
What will be an ideal response?
Milton Friedman's macroeconomic theory and political philosophy have the relationship one would expect. He is a
A. Keynesian and a political liberal. B. new classical macroeconomist and a political liberal. C. monetarist and a political conservative. D. supply-sider and a political conservative.
A month ago, you bought a one-year bond with a value of $100 that pays a fixed interest rate of 5 percent per year. The interest rate of the economy was also 5 percent. Today you read in the newspaper that the interest rate in the economy increased to 6 percent. You are holding a bond that is:
A. not desirable at all. B. desirable to you. C. less desirable to other investors. D. highly desirable to other investors.