A monopolistic industry will have a Herfindahl index value of:
a. 1.
b. 100.
c. 500.
d. 1000.
e. 10.
d
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Everything else equal, if the dollar depreciates against the Chinese yuan:
A) China will stop trading with the U.S. B) China will import more from the U.S. and will export less to the U.S. C) China will export more to the U.S. and will import less from the U.S. D) the Chinese government will buy yuan from the foreign exchange market.
The bowed-out shape of the production possibilities curve shows that as more of one product is produced,
a. the opportunity cost per unit will increase. b. the opportunity cost per unit will decrease. c. the opportunity cost per unit stays the same. d. the production possibilities curve shifts inward.
An increase in the wage rate will cause the labor supply curve to shift to the right
a. True b. False
Water quality in the United States has ____ in the past 25 years
a. improved b. worsened c. remained unchanged d. improved slightly before a recent deterioration