A pure monopoly has a HHI value of
A. 1,000.
B. 5,000.
C. 10,000.
D. 100,000.
Answer: C
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Which is not true for a monopolistically competitive industry?
A. Firms tend to operate with excess capacity. B. Firms operate at the lowest point of their ATC curves in the long run. C. Each firm faces a downward-sloping demand curve. D. These firms earn zero economic profits in the long run.
Who is "selling short"?
A) The grocer who sells a pound of apples today at a slashed price of 75 cents a peck B) The airline requiring you to pay for your ticket two weeks in advance of the flight C) The church that provides a free Thanksgiving dinner to the poor D) All of the above.
Monetary policy in the United States is primarily the responsibility of ________
A) the President and Congress B) the Federal Reserve System C) the U.S. Treasury D) the Comptroller of the Currency
How has the pattern of fluctuations in overall U.S. business activity changed since World War II?
A) It has become less volatile. B) Expansions have been eliminated. C) Contractions have been eliminated. D) Recessions have been eliminated.