Which of the following is the same as a currency union?
A) a monetary union
B) a currency pact
C) a monetary pact
D) a monetary area
Ans: A) a monetary union
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As the Federal Trade Commission currently interprets the Herfindahl-Hirschman index (HHI), an industry is considered to be highly concentrated if the HHI value is above
A) 100. B) 1,000. C) 2,500. D) 5,000.
New computer technology has
A) increased the cost of financial innovation. B) increased the demand for financial innovation. C) reduced the cost of financial innovation. D) reduced the demand for financial innovation.
The set of mechanisms and institutions that resolve the basic economic questions is called the
a. economic system b. production possibilities dilemma c. business resolution device d. absolute advantage determination e. comparative advantage determination
A monopoly firm's demand curve
A) is the same as the market demand curve. B) is perfectly inelastic. C) is more inelastic than the demand curve for the product. D) is inelastic at high prices and elastic at lower prices.