The tool that economists use to analyze the mutual interdependence of oligopolies is
A) economies of scale.
B) the four-firm concentration ratio.
C) game theory.
D) the HHI.
E) the efficient scale.
C
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Suppose the total benefit of watching 1 baseball game is 100, the total benefit of watching 2 games is 120, and the total benefit of watching 3 games is 125. In this case, the marginal benefit of watching the 3rd game is:
A. 125 B. 375 C. 5 D. 41.67
Which of the following tools is used to compare the income per capita across countries?
A) Purchasing power parity B) The headcount index C) The GDP deflator D) Production possibilities frontier
While moving on the production possibilities frontier, if the opportunity cost of producing one good is 1/2, the opportunity cost of producing the other good (in the same range) is
A) 1/2. B) 1/4. C) 2. D) 4. E) An amount that cannot be calculated without more information.
According to the quantity theory of money demand
A) an increase in interest rates will cause the demand for money to fall. B) a decrease in interest rates will cause the demand for money to increase. C) interest rates have no effect on the demand for money. D) an increase in money will cause the demand for money to fall.