Serious environmental problems are
a. unique to industrial economies.
b. unique to Western economies.
c. unique to civilized economies (i.e., those in which people live mainly in cities).
d. None of the above is correct.
d
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If a market is shared equally by 200 firms the Herfindahl-Hirschman Index is
A) 12.5. B) 25. C) 50. D) 200.
Prior to 2008, a bank might have borrowed reserves from another bank because:
A. banks never borrowed from the Fed. B. it kept its reserves too low and could not meet Fed requirements. C. borrowing reserves from other banks is the only way to gain access to reserves. D. it was in danger of becoming insolvent and collapsing.
In an opera house, the price of box seats increases from $100 to $120 per seat. However, the number of box seats is fixed. This is an example of ______.
a. perfectly elastic supply b. elastic supply c. perfectly inelastic supply d. inelastic supply
Unions tend to want import restrictions because
A) imports are usually of inferior quality. B) they can increase the wages for union workers by increasing the productivity of union workers when the workers aren't worried about foreign competition. C) the restrictions also reduce the number of immigrants that can enter the country and decrease the supply of nonunion labor. D) the restrictions decrease the demand for non-union made goods, increasing the demand for union made goods.