Which of the following is a shortcoming of concentration ratios?
A. The measurement generally does not include foreign imports.
B. The measurement is based on all firms of the industry, no matter how small.
C. The measurement is only based on the top ten firms in an industry.
D. The measurement includes foreign imports.
A. The measurement generally does not include foreign imports.
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Expansionary fiscal policy to prevent real GDP from falling below potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) higher; lower B) higher; higher C) lower; lower D) lower; higher
In the efficiency wage model with the efficiency wage above the market-clearing wage, the level of employment depends on
A) the intersection of labor supply and labor demand. B) the marginal productivity of capital and the marginal productivity of labor. C) labor demand alone. D) labor supply alone.
In any production process the marginal product of labor equals
a. Change in total output divided by change in labor input b. Total output divided by total input c. Total output d. None of the above
According to the World Bank, the high-income oil-exporting nations like Libya, Saudi Arabia, Kuwait, and the United Arab Emirates:
a. are considered to be still-developing countries. b. are the major trade partners of the U.S. c. are considered as underdeveloped economies. d. have highly interdependent economies. e. are considered highly-developed countries.