A single currency area requires
A) mobile labor and synchronized business cycles.
B) immobile labor and synchronized business cycles.
C) immobile labor and mobile capital.
D) mobile labor and unsynchronized business cycles.
A
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Which of the following financial institutions went bankrupt as a result of the financial crisis that began in 2008?
A) Lehman Brothers B) Bank of America C) Citigroup D) JP Morgan
When there is a tendency for a particular product to come into favor with additional consumers because other consumers have chosen to purchase the product
A) negative market feedback occurs. B) positive market feedback occurs. C) there is no dominant strategy. D) a price war must result.
The yardstick most often used to compare living standards is:
a. aggregate demand b. Gross National Product c. output per capital d. international investment
Suppose that an industry consists of 15 firms, and the top 4 firms have annual sales of $2.5 million, $2 million, $1.5 million, and $1 million, respectively. If the entire industry has annual sales of $10 million, the four-firm concentration ratio is
A. 25 percent. B. 85 percent. C. 70 percent. D. 50 percent.