An economist is told that concentration in the cement industry has increased. He can safely conclude that
a. cement production must have fallen in the industry.
b. competition in the cement industry has decreased.
c. there are fewer cement producers than before.
d. All of the above are correct.
c
You might also like to view...
If government spending is $650 billion while government revenue is $950 billion, the government is said to have a
A) $300 billion budget surplus. B) $300 billion budget deficit. C) $1,600 billion budget balance. D) $950 billion budget deficit.
Moral hazard:
A. always happens when adverse selection is a problem. B. never happens when adverse selection is a problem. C. can happen when adverse selection is a problem. D. None of these statements is true.
The GDP figure does not accurately reflect economic welfare because
a. it does not include non monetary transactions. b. the value of goods produced in the home is usually overstated. c. it includes only consumption goods and services. d. it usually includes an overstated estimate of social costs.
The proportion of the U.S. population below the poverty line
A. rises with upturns of the business cycle. B. has declined, though somewhat erratically, over the past 40 years. C. has been virtually eliminated by a vigorous "War on Poverty." D. covers roughly 20% of the same people year after year.