Consider an industry with 6 firms. Firm A has sales of $6 mil., firm B has sales of $12 mil., firm C has sales of $30 mil., firm D has sales of $50 mil. and firm E has sales of $2 mil. The four firm concentration ration in this industry is
a. 50%
b. $98 million
c. 98%
d. 80%
e. unknown, not enough information to tell
C
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When the money market is drawn with the value of money on the vertical axis, if the price level is below the equilibrium level, there is an
a. excess demand for money, so the price level will rise. b. excess demand for money, so the price level will fall. c. excess supply of money, so the price level will rise. d. excess supply of money, so the price level will fall.
A tendency for a good to come into favor with consumers because other consumers have chosen to buy the item is
A. price-leadership. B. a negative-sum game. C. positive market feedback. D. negative market feedback.
The coupon rate of a bond is equal to
A) the coupon payment. B) the interest payment. C) the interest rate. D) the face value.
Refer to the information provided in Figure 1.5 below to answer the question(s) that follow.
Figure 1.5Refer to Figure 1.5. As income decreases, consumption decreases by a decreasing amount. If consumption is graphed on the vertical axis and income is graphed on the horizontal axis, the relationship between consumption and income would look like which of the following Panels?
A. A B. B C. C D. D