While legislation enacted in 1998 granted the Bank of Japan new powers and greater autonomy, its critics contend that its independence is
A) limited by the Ministry of Finance's veto power over a portion of its budget.
B) too great because it need not pursue a policy of price stability even if that is the popular will of the people.
C) too great since the Ministry of Finance no longer has veto power over the bank's budget.
D) limited since the Ministry of Finance can dismiss senior bank officials.
A
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The Herfindahl-Hirschman Index is an approach to measuring market concentration by adding the ___________ of the market share of each firm in the industry.
a. average b. mean c. sum d. square
If a $500 billion increase in investment spending increases income by $500 billion in the first round of the multiplier process and by $450 in the second round, income will eventually increase by:
A. $2,500 billion. B. $3,000 billion. C. $4,000 billion. D. $5,000 billion.
When the market for a good is in equilibrium,
What will be an ideal response?
Zachary spends his day studying for a total of four hours and exercising for one hour. Using the concept of utility to explain his choices, we can say
A. the marginal utility of studying for a fifth hour will be negative. B. the marginal utility from studying for a fifth hour is less than the marginal utility from the first hour of exercise. C. the total utility gained from exercising for one hour is greater than the total utility from studying for four hours. D. the marginal utility of exercising for the first hour was greater than the marginal utility of studying for the first hour.