An industry which has a 4-firm concentration ratio near 0 would best be described as
A. oligopoly.
B. monopoly.
C. perfect competition.
D. monopolistic competition.
Answer: C
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You withdraw $2,000 from your account. Your bank has a desired reserve ratio of 20 percent. This transaction, by itself, will directly reduce
A) the quantity of money by $1,600. B) deposits by $1,600. C) the quantity of money by $2,000. D) deposits by $2,000.
What is meant by productive efficiency? How does a perfectly competitive firm achieve productive efficiency?
What will be an ideal response?
Which component of GDP is most likely to be negative?
A. Net exports B. Gross private domestic investment C. Government purchases D. Imports
If a tax shifts the demand curve upward (or to the right), we can infer that the tax was levied on
a. buyers of the good. b. sellers of the good. c. both buyers and sellers of the good. d. We cannot infer anything because the shift described is not consistent with a tax.