Which of the following measures is used by the Justice Department to evaluate the competitive effects of proposed mergers?
A) The Lerner Index.
B) The eight-firm concentration ratio for an industry.
C) The four-firm concentration ratio for an industry.
D) The Herfindahl-Hirschman Index.
D
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An increase in the public debt would most likely indicate that
A) national saving has increased. B) the budget deficit has increased. C) the budget deficit has decreased. D) the trade deficit has decreased.
If the required reserve ratio is 15 percent, the simple deposit multiplier is
A) 15.0. B) 1.5. C) 6.67. D) 3.33.
Production possibilities frontiers are typically concave (bowed out) from the origin because
a. of the law of supply b. there is usually a one-for-one trade-off in resources used in production c. economies of scale enable firms to reduce the average costs of production as output rises d. the opportunity cost of a good rises as the quantity of the good produced increases e. resources are often left idle in the firm
Which of the following helps determine the growth rate of potential GDP? I. capital accumulation II. technology advances III. growth in the quantity of money
A) I B) I and II C) I and III D) I, II and III