The Herfindahl index for a pure monopolist is:
A. 100.
B. 10,000.
C. 100,000.
D. 10.
Answer: B
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(I) Governments that respect property rights and freedom of exchange while following monetary (and fiscal) policies consistent with relative price stability, establish the foundation for economic growth. (II) Governments have often diminished the economic prospects of a nation by levying high taxes, instituting price controls, and following inflationary monetary policies
a. I is true; II is false. b. I is false; II is true. c. Both I and II are true. d. Both I and II are false.
Which of the following is not included as net income in the U.S. balance of payments?
a. Foreign dividends received by U.S. residents. b. Profits earned by U.S. companies from foreign operations and reinvested abroad. c. U.S. interest paid to foreigners. d. Income paid by a U.S. company to foreign consultants. e. All the above are included as net income in the U.S. balance of payments.
A household member's decision about how much labor to supply is most closely linked to
a. the supply of factors of production other than labor. b. technological change. c. the tradeoff between leisure and work. d. immigration trends.
A security that pays the holder, should mortgage borrowers fail to repay their debts, is a
A. traditional, thirty-year fixed-rate mortgage. B. credit-default swap. C. pay-option adjustable-rate mortgage. D. thirty-year U.S. Treasury bond.