In recent decades, other countries have caught up to the U.S. and even surpassed it in some important economic arenas
a. True
b. False
Indicate whether the statement is true or false
False
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When a major league baseball player's contract has expired, he can either sign a new contract with his current team or become a free agent and sign a contract to play with a different team
If adverse selection is a problem in the market for major league ball players, who do you think are more likely to be injured the season after they sign a new contract: players who re-sign with their current team or players who sign with a new team? Explain.
Suppose a ten firm industry has total sales of $35 million per year. The largest firm have sales of $10 million, the third largest firm has sales of $4 million, and the fourth largest firm has sales of $2 million
If fifth through tenth largest firms combined have annual sales of $12 million, the four-firm concentration ratio for this industry is A) 45.7 percent. B) 80 percent. C) 65.7 percent. D) none of the above.
If the price elasticity of demand within the price range $1 and $1.25 for carrots is 0.79 and for radishes is 1.6, then, within that price range
a. carrots are more price elastic than radishes b. radishes are more price elastic than carrots c. carrots and radishes must be substitute goods d. carrots and radishes must be complementary goods e. both carrots and radishes are price elastic
Which of the following is not correct?
a. Poverty is correlated with race. b. Poverty is correlated with age. c. Poverty is correlated with family composition. d. All of the above are correct.