Refer to the data. If Firm B merged with Firm C, the industry's four-firm concentration ratio would ____ and its Herfindahl index would ____.
A. rise; rise
B. fall; rise
C. remain the same; rise
D. remain the same; fall
A. rise; rise
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If the Fed decreases the nominal interest rate by 2 percent, how will the real interest rate change in the short run?
a. It will decrease by 1 percent. b. It will decrease by 2 percent. c. It will increase by 1 percent. d. It will increase by 2 percent.
If a producer is willing to receive at least $2 for a pen that she manufactures but she actually receives $7 for it. The producer surplus of the pen for that producer is
A) $2. B) $5. C) $9. D) -$5.
As a business type, corporations ________ in the United States
A) earn the majority of revenues B) are the most common C) are the least common D) are subject to the fewest taxes
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward