The measurement of industry concentration which calculates the percentage of all sales contributed by a specific number of leading firms is called the
A. competition index.
B. concentration ratio.
C. Herfindahl-Hirschman Index.
D. payoff matrix.
Answer: B
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Which of the following is false? Critics of the ISLM framework have stated that
A) there is no linkage between flow and stock concepts. B) the interest rate is the only mechanism through which monetary policy operates. C) money is not a substitute for physical assets. D) velocity is assumed to be constant.
What term is used to denote costs that rise and fall depending on the rate of production?
a. implicit costs b. variable costs c. average costs d. fixed costs
Structural unemployment exists because workers and employers try to find the right employment matches.
Answer the following statement true (T) or false (F)
Assume an economy is in equilibrium at an output level of $1,600 billion. If government purchases increase by $200 billion, then at the output level of $1,600 billion, there is
A. an unplanned decrease in inventories. B. an unplanned increase in inventories. C. an unplanned inventory change of zero. D. either an unplanned increase or decrease in inventories depending on the value of the MPC.