A concentration ratio provides a better assessment of market power than the Herfindahl-Hirschman index does
a. True
b. False
Indicate whether the statement is true or false
False
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The following are all final goods EXCEPT
A) flour used by the baker to make cupcakes. B) bread eaten by a family for lunch. C) pencils used by a 6th grader in class. D) Nike shoes used by a basketball player. E) a computer used by Intel to design new computer chips.
The member countries under the EMS (European Monetary System) let their currencies float jointly among themselves, but maintained a fixed exchange rate against the rest of the world
Indicate whether the statement is true or false
If the demand curve for a product is horizontal, then
A) the demand for the product is perfectly inelastic. B) the demand for the product is perfectly elastic. C) only a certain amount of the product will be consumed regardless of price. D) the price elasticity of the product approaches zero.
In the simple liquidity-preference model, the money supply curve is:
A. vertical, and moves when people change their rate of savings. B. horizontal, and moves at the sole discretion of the Fed. C. vertical, and moves at the sole discretion of the Fed. D. horizontal, and moves when people change their rate of savings.