What is the largest market share held by an individual firm in the Sanitary Paper Product Manufacturing industry?
a. 25 percent
b. 27.2 percent
c. 35.5 percent
d. 92.7 percent
c. 35.5 percent
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Supporters of Federal Reserve independence contend that independence from the rest of the federal government leads to lower
A) inflation rates. B) interest rates. C) reserve requirements. D) rates of unemployment.
If the price of a product falls below average total cost in the short run, the firm
a. has an economic profit b. cannot cover total fixed costs c. experiences a loss d. must always shut down e. should expand output until MC = MR
Which of the following scenarios would support the theory of public choice?
A. A college president eliminates wasteful departments and programs even though this will shorten her tenure and her political future. B. The local police chief fails to give the mayor a speeding ticket because the mayor might fire him. C. The president of Colombia goes after drug traffickers despite death threats and the offer of bribes that could make him a rich man. D. The governor of the state vetoes a highway bill even though the highway would enhance the value of property he or she owns.