Which of the following characterizes an oligopolistic industry?
a. mutual interdependence
b. low barriers to entry
c. small output of individual firms relative to the total market
d. a large number of competing firms
a
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Suppose the Consumer Price Index is 143.6. What does that number mean?
A) On average, goods cost $143.60. B) On average, goods cost $243.60. C) Prices rose 143.6 percent over the reference base period, on average. D) Prices rose 43.6 percent over the reference base period, on average.
Which of these policy rule variables does NOT have the disadvantage of being hard to control?
A) nominal GDP growth B) high-powered money C) the unemployment rate D) the inflation rate
There are six firms in the cresset industry. The market shares of the four largest firms are 50 percent, 20 percent, 10 percent, and 7 percent. The Herfindahl index is
a. 87 b. 4,149 c. 10,000 d. 3,081 e. impossible to calculate because data for the fifth and sixth firms are not given
Results of research conducted regarding the Moving to Opportunity program found all of the following except
A) boys and girls who moved to low-poverty neighborhoods were less likely to be arrested. B) boys who moved to low-poverty neighborhoods displayed less cruel or mean behavior. C) girls who moved to low-poverty neighborhoods had fewer behavioral difficulties. D) boys and girls who moved to low-poverty neighborhoods were less likely to be victims of crimes.