Economists use M2 to measure the amount of money that is regularly used in transactions
Indicate whether the statement is true or false
FALSE
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The Herfindahl-Hirschman Index measures market concentration in an industry by summing the square of the percentage market shares for
A) the 4 largest firms. B) the 50 smallest firms. C) the 4 smallest firms. D) the 50 largest firms. E) all firms in the market.
Shifting resources from other goods to security goods may not increase a nation's national security if
a. the law of increasing opportunity cost is not applicable b. the economy is already at full employment c. the economy is not at full employment d. national security is already at its maximum e. other nations react to the shift by increasing their own spending on national security
Since 1946, the president of the United States has received guidance from a group comprised of three members and a staff of a few dozen economists known as the
Government licensing, patents, and government franchising are all examples of
A. economies of scale. B. economies of being established. C. legal barriers to entry. D. control of an essential resource.