If a pre -merger Herfindahl-Hirschman Index (HHI) is greater than ________, the market is considered not competitive and any merger receives a high level of scrutiny.
A) 1,500 B) 5,500 C) 500 D) 2,500
D) 2,500
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One drawback to a single currency is that
A) the exchange rate is more volatile. B) bond markets are larger and therefore harder to control. C) exporters and importers have fewer choices about how they will receive and make payments. D) individual nations cannot use monetary policy to stabilize the economy. E) foreign currency is more expensive.
If individuals are holding more money than they desire
A) they will attempt to reduce their liquidity by using money to purchase goods. B) they will attempt to reduce their liquidity by using money to purchase interest-bearing assets. C) they will attempt to reduce their liquidity by converting real money holdings into nominal money holdings. D) they will keep their holdings constant.
The velocity of money is defined as: a. the time it takes the average worker to get to the bank with his/her paycheck
b. the time it takes banks to clear checks. c. the average number of times per year each dollar is used to purchase final goods and services. d. the ratio of money supply to the average price level in an economy. e. the average number of times per year each dollar is spent for goods, payrolls, Social Security payments, etc.
All of the following are true about the Wagner Act of 1935 except that it
a. prohibited unfair labor practices by unions b. was the most important piece of labor legislation in United States union history c. established that firms must accept unions as legitimate institutions in collective bargaining d. guaranteed the union's right to conduct elections freely among workers e. is regarded by unions as their Magna Carta