An industry with a high four-firm concentration ratio implies
a. firms have high supplier power
b. firms have low supplier power
c. buyers have a high supplier power
d. buyers have a low supplier power
a
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. In the absence of transactions costs, changes in property rights have no effect on economic efficiency. 2. In the absence of transactions costs, changes in property rights have no effect on the distribution of income. 3. Changes in property rights will not affect the allocation of resources as long as transactions costs are zero and the subsequent effects on market demand are negligible. 4. The weak Coase theorem is true when reallocation of property rights have negligible income effects . 5. According to the Coase Theorem, in the absence of transactions costs, recipients of an external benefit can be expected to offer a bribe in exchange for greater production.
The central bank in the New Keynesian model pursues a policy of
A) fixed money supply. B) inflation between 2 and 3%. C) zero inflation. D) targeting the market interest rate.
Positive statements are not
a. descriptive. b. prescriptive. c. claims about how the world is. d. made by economists speaking as scientists.
Refer to Figure 11.1. Assume aggregate demand is initially represented by AD1 and full-employment output is $6.0 trillion. If aggregate demand increases by the amount of the GDP gap, equilibrium will occur at
A. Point a. B. Point b. C. Point c. D. Point d.