Which of the following is likely to lead to a decrease in the demand for tennis balls?
A. An increase in the price of tennis balls.
B. An increase in the price of the rubber used to make tennis balls.
C. An increase in the price of tennis racquets.
D. An increase in the expected future price of tennis balls.
Answer: C
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Under Federal Trade Commission merger guidelines, an industry with a Herfindahl-Hirschman index (HHI) of 800 points is considered
A) competitive. B) moderately concentrated. C) concentrated. D) a monopoly.
In response to the destructive bank panics of the Great Depression, Congress established ________ in 1934 to reduce the likelihood of asset deflation and bank failures
A) the Federal Reserve system B) banking reserve requirements C) fractional reserve banking D) the Federal Deposit Insurance Corporation
Which of the following is not a supply-side measure?
a) Increased training b) Providing more information c) Helping individuals to move location to find work d) Increasing spending on existing industries
Suppose the total monetary value of all final goods and services produced in a particular country in 2010 is $500 billion and the total monetary value of final goods and services sold is $450 billion. We can conclude that:
a) GDP in 2010 is $450 billion. b) NDP in 2010 is $450 billion. c) GDP in 2010 is $500 billion. d) inventories in 2010 fell by $50 billion.