If an increase of $5 billion in investment is associated with an increase of $25 billion in real Gross Domestic Product (GDP), the multiplier is

As a result of a decline in interest rates and a rise in household income, the demand curve for housing has shifted to the right, but has retained the same slope. Consequently, the elasticity of demand for housing

a. has declined. b. has increased. c. has remained unchanged. d. cannot be compared.

Concentration ratios:

A. may overstate the degree of competition because they ignore imported products. B. may overstate the degree of competition because interindustry competition is ignored. C. may understate the degree of competition because they ignore imported products. D. provide detailed insights as to the price and output behavior of firms that comprise the various industries.