What would the Herfindahl-Hirschman Index equal for an industry consisting of six firms with market shares of 40 percent, 30 percent, 20 percent, 5 percent, 3 percent, and 2 percent?
A. 0.95
B. 2.934
C. 2,938
D. 10,000
Answer: C
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American households spend about ____ of the average family budget on services, with the rest spent on goods.
A. one-half B. two-thirds C. one-quarter D. one-tenth
If workers and firms lower their inflation expectations
A) actual inflation will fall to match expected inflation. B) unemployment will rise. C) the short-run Phillips curve will be vertical. D) the short-run Phillips curve will shift downward.
The Sherman Act and the Clayton Act were passed into law more than 100 years ago. What characteristic of each of these laws enables them to remain applicable in today's modern economy?
What will be an ideal response?
The quantity of money held in response to interest rates is the:
a. precautionary motive for holding money. b. unit-of-account motive for holding money. c. transactions motive for holding money. d. speculative motive for holding money.