Consider two industries in which firms hold the following market shares: Industry A: 25%, 20%, 18%, 15%, 8%, 7%, 4%, 2%, 1% Industry B: 30%, 10%, 9%, 8%, 8%, 8%, 8%, 6%, 6%, 5%, 2% What are the concentration ratios for each industry? Which is more competitive?
78%
57%
Industry B
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Suppose a bank has $600,000 in deposits, a reserve ratio of 20 percent, and bank reserves of $240,000. This bank can make new loans in the amount of
A) $840,000. B) $360,000. C) $120,000. D) $12,000.
Refer to the Article Summary. The article discusses income inequality, and for some people this means a more equitable distribution of income is needed in the economy. Would an equitable distribution of income necessarily be the most efficient distribution of income?
A) No, it is impossible to have an economically efficient distribution which is also an equitable distribution. B) No, an economically efficient distribution of income would not necessarily be equitable. C) Yes, in order for the distribution to be equitable, it must also be efficient. D) Yes, equitable and efficient are two different words which have the same definition.
"Demand" is best defined as the relationship between:
A) the price of a good and the quantity consumers are willing and able to buy at each price level. B) the current price of a good and the quantity demanded at that price. C) the quantity supplied and the price people are willing to pay for a good. D) the amount of income someone has and the price he is willing to pay for a good.
For the majority of the U.S. population ________
A) consumption is driven solely by current income B) consumption smoothing is possible C) a change in lifetime resources will not change current consumption D) a change in lifetime resources will not change future consumption