If an industry has 25 firms that collectively have $150 million in total sales and the top three firms in this industry account for $78 million in sales and the fifth through twenty-fifth firms account for $60 million in sales, what is the amount of
sales for the fourth largest firm? A) $12 million
B) $6 million
C) $18 million
D) none of the above
A
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The goals of monetary policy tend to be interrelated. For example, when the Fed pursues the goal of ________, it also can achieve the goal of ________ simultaneously
A) high employment; economic growth B) stability of financial markets; a low current account deficit C) high employment; lowering government spending D) economic growth; a low current account deficit
Which of these is true of the expected price level in a labor market? a. It is the equilibrium price level in the short run
b. It determines the actual price level in the short run. c. It determines the actual price level in the long run. d. It allows firms and resource owners to make long-term wage agreements. e. The difference between the expected and actual price levels is equal to the actual inflation rate.
The largest metropolitan area in the United States that has no major league baseball, basketball, football, or hockey franchise is
A. Birmingham, Alabama. B. Ft. Myers, Florida. C. Las Vegas, Nevada. D. Austin, Texas.
Look at the following equations and then answer the question below.
Week 1: MU1/$1 > MU2/$1 9 utils/$1 > 1 utils/$1 Week 2: MU1/$1 > MU2/$1 6 utils/$1 > 2 utils/$1 If consumer equilibrium is reached in week 3, what is the most likely value of MU1 in week 3? a. 1 util b. 2 utils c. 3 utils d. 6 utils