If market demand increases and market supply decreases, the change in equilibrium price is unpredictable without first knowing the exact magnitudes of the demand and supply changes.
Answer the following statement true (T) or false (F)
False
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According to current Justice Department guidelines, mergers in an industry are seldom challenged if the industry
a. would have a postmerger Herfindahl index greater than 1,800 b. would have a postmerger Herfindahl index less than 1,000 c. has a premerger Herfindahl index greater than 1,800 d. has a premerger Herfindahl index less than 1,000 e. has a premerger Herfindahl index equal to 10,000
The natural rate of unemployment
a. is an artificially low rate that cannot be maintained. b. is a constant rate that is unaffected by changes in public policy. c. is the rate of unemployment present when the economy is operating at full employment. d. is equal to the number of persons unemployed divided by the number in the labor force.
When an individual obtains a car loan and makes all of the regular monthly payments, the sum of the payments made will exceed the purchase price of the car. This is due primarily to the core principle:
A. time has value. B. information is the basis for decisions. C. markets determine prices and allocate resources. D. risk requires compensation.
Jim used to be very careful with his car. However, once he bought full auto insurance on it, he stopped turning on his alarm or even locking it when parking it. This is an example of moral hazard.
Answer the following statement true (T) or false (F)