Comparative advantage is the ability to produce a good at a lower opportunity cost than another producer.
Answer the following statement true (T) or false (F)
False
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There are 6 firms in a market and the market shares of the firms are 40 percent, 30 percent, 10 percent, 8 percent, 7 percent, and 5 percent. The Herfindahl-Hirschman index is
A) 2738. B) 2664. C) 100. D) 88.
The most commonly used tool by the Federal Reserve to control the monetary base is
a. changes in the discount rate. b. changes in tax rates on commercial banks. c. changes in legal required reserve ratios. d. open market operations.
If a firm located outside of China violates China's Anti-monopoly Law, China ________ prosecute the firm ________.
A) cannot; if the firm's behavior affects the markets within China B) can; if the firm's behavior affects the markets within China C) can; regardless of whether or not the firm's behavior affects the markets within China D) cannot; regardless of whether or not the firm's behavior affects the markets within China
If X and Y are complementary goods, the demand curve for X will shift to the right when the price of Y increases
a. True b. False Indicate whether the statement is true or false