A concentration ratio is used to
A) determine whether a market structure is oligopoly.
B) determine the price level relative to firms' marginal costs.
C) determine the degree of homogeneity in the market.
D) determine the absolute size of a market.
Answer: A
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In the above figure, a trough is at point ________ and a peak is at point ________
A) a; b B) b; c C) b; a D) d; c
A property tax is a
a. progressive tax assessed on property ownership b. flat rate tax assessed on physical assets such as land c. flat rate tax assessed on income received from property ownership d. flat rate tax assessed on the sale of property and other physical assets e. progressive tax assessed on the sale of property and other physical assets
The monetarists believed that if the money supply was increased during a recession, people would ____________.
Fill in the blank(s) with the appropriate word(s).
GDP measured using current prices is called:
a. Constant GDP b. Nominal GDP c. Real GDP d. Deflated GDP