Too much spending chasing too few goods best describes:
What will be an ideal response?
demand-pull inflation
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Moving along a short-run Phillips curve, a reduction in the unemployment rate is achieved by
A) reducing the size of the labor force. B) shifting the aggregate supply curve leftward. C) increasing potential GDP. D) running a federal budget deficit. E) increasing the inflation rate.
A point inside the utility possibility frontier is:
A. inefficient. B. impossible. C. efficient. D. desirable.
If an industry is dominated by three large producers whose revenues represent 30%, 30%, and 30% of the market's total revenues with the remaining two firms each representing 5%, what would be the measure of the Herfindahl-Hirschman Index for this industry?
a. 2,725 b. 2,750 c. 9,975 d. 10,000
The present discounted value of $100 to be received one year from now, if the interest rate is 2.5 percent, is closest to
A. $98. B. $95. C. $103. D. $100.