If the four-firm concentration ratio is a very small number, then
A) there is a high degree of competition in the market.
B) there is no competition in the market.
C) the market must be dominated by a few firms.
D) the market is not perfectly competitive.
A
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Other things remaining the same, a right shift in the supply curve will lead to:
A) a decrease in the equilibrium price and an increase in the equilibrium quantity. B) an increase in the equilibrium price and the equilibrium quantity. C) an increase in the equilibrium price and a decrease in the equilibrium quantity. D) a decrease in the equilibrium price and the equilibrium quantity.
The non-bank public chooses among various financial assets in deciding what kind of liquidity it wants to hold. It thereby increases or decreases
A) the narrowly-defined money stock (M1). B) the reserves of commercial banks. C) the reserves commercial banks are required to hold. D) all of the above, at least potentially. E) none of the above, since only the Fed can alter the money supply.
"Buy now, pay later" or "try it before you buy it" are examples of
a. Loss aversion b. Endowment effect c. Confirmation bias d. Anchoring bias
In the long run,
a. inputs that were fixed in the short run remain fixed. b. inputs that were fixed in the short run become variable. c. inputs that were variable in the short run become fixed. d. variable inputs are rarely used.