The top four firms in the industry have 10 percent, 8 percent, 8 percent, and 6 percent of the market. The Herfindahl index of this market is closest to which of the following?
A. 66
B. 264
C. 8
D. 32
Answer: B
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An example of a clean alternative fuel is
a. hydrogen d. biodiesel b. methanol e. all of the above c. E(85) ethanol
To combat inflation, Congress and the president should
A) increase transfer payments. B) decrease taxes. C) decrease government spending. D) raise interest rates.
Assume that the interest rate on the loanable funds market is 10 percent. If rock star Joni Jackson enjoys performing so much that she would do it for free, yet earns $10 million a year, her annual wage-related rent is
a. $10 million b. $1 million c. $0 d. $100 million e. $9 million
The proposition that the Fed should concentrate on price stability rather than reducing unemployment is
a. generally accepted by politicians, although few economists accept this proposal. b. largely accepted by most economists, although politicians do not agree. c. highly debatable, because many do not agree that price stability should be the most important goal. d. simply incorrect, and no one accepts this idea anymore.