The four-firm concentration ratio for the market depicted in Table 8.1 is:
A. 10%.
B. 40%.
C. 82%.
D. 92%.
Answer: D
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What is the measure of the income earned by owners of resources used in making final goods and services?
a. personal income b. national income c. retained earnings d. gross domestic income
A share of stock is
A) a claim on the assets of the corporation that gives the purchaser an ownership right in the corporation. B) the share of profits distributed to stockholders. C) a promise to pay for the use of someone else's money. D) a promise to loan money to someone. E) a and b
The Federal Reserve
A. is not legally authorized to monitor or regulate complicated financial derivatives. B. should not have promoted the use of complicated financial derivatives the way it did during the financial crisis. C. did not pay close enough attention to derivatives in the period leading up to the financial crisis. D. could have prevented the financial crisis through the use of complicated financial derivatives.
Initially, a consumer is at an optimum. Then the price of Y decreases. Consequently
A) MUX/PX < MUY/PY. B) MUX/PX > MUY/PY. C) MUX/PX = MUY/PY. D) MUX > MUY.