Suppose there are 51 firms in a market. The largest firm has sales of $50 million and each of the other firms has sales of $1 million. The Herfindahl-Hirschman Index of this industry is
A. 2,501.
B. 2,500.
C. 50.
D. 2,550.
Answer: D
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When the economy is in a recession, ________ taxes decrease while ________ spending increases and, as a result of this automatic fiscal policy, aggregate demand ________
A) induced; discretionary; is not changed B) needs-tested; induced; decreases C) induced; needs-tested; increases D) discretionary; induced; is not changed E) discretionary; needs-tested; increases
In the above figure, how does the slope of the line between x = 4 and x = 5 compare with the slope between x = 2 and x = 3?
A) The slope is greater between x = 4 and x = 5. B) The slope is greater between x = 2 and x = 3. C) The slope is the same. D) The slope is not comparable.
Which of the following is not a basis for trade between two nations?
a. different skill levels of the labor forces b. one nation's absolute advantage c. a difference in tastes between countries d. economies of scale e. different capital stocks
A scarce resource
A. is always very expensive. B. is hard to find. C. is not something managers need to worry about. D. has multiple uses.