The measure of market power that focuses on the share of the market controlled by the X largest firms in the market is known as:
A) the Lerner Index.
B) the Herfindahl-Hirschman Index.
C) the Minimum-Efficient Scale Index.
D) a concentration ratio.
D
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Assume the economy is initially in equilibrium where potential GDP equals real GDP
If the expected inflation rate, the term structure effect, and the default-risk premium are constant and the Fed wants to lower the inflation rate, the Fed could ________ the target short-term nominal interest rate, which will result in real GDP being ________ potential GDP. A) increase; greater than B) increase; less than C) decrease; greater than D) decrease; less than
Which one of the following people would be counted as unemployed in Canada?
A) Kathy has stopped looking for work since she was unable to find a suitable job during a one -month search. B) Sharon is a college student with a job. C) Benoit who was laid off when his firm closed down 2 months ago and has not been looking for work as he is going back to school. D) Christos has been laid off from his job a month ago, and has not been looking for a new job as he is waiting for a severance package from his former employer. E) Veena is not working, but she is looking for a full-time job.
If a firm adopts a labor-augmenting piece of technology, it will:
A. increase the marginal product of labor. B. decrease the marginal product of labor. C. decrease the marginal supply of labor. D. increase the marginal supply of labor.
Answer the following statement(s) true (T) or false (F)
1.A bank with a reserve requirement of 12 percent has a money multiplier of 12. 2.The money multiplier allows a bank to calculate exactly how much money will be generated from a given deposit. 3.The Federal Reserve System is a publicly owned entity. 4.The members of the Federal Reserve Board of Governors are chosen by the Board’s chairman. 5.Most of the decisions influencing changes in the money supply are made by the heads of the 12 banks that make up the Federal Reserve System.