If a product such as cement or bricks is costly to ship and, therefore, markets are very localized, the national concentration ratio for that industry:
A. will be greater than 50 percent.
B. may understate the degree of monopoly.
C. may overstate the degree of monopoly.
D. will yield an accurate impression of the degree of monopoly.
Answer: B
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Suppose the population of the U.S. is 300 million people. Of these, the U.S. Bureau of Labor Statistics classifies 70 million people as "not surveyed," 80 million people as not in the labor force, and 144 million as employed. What would be the unemployment rate in this example?
Select one: a. 2% b. 4% c. 6% d. 8%
Some economists conduct empirical research on the theory of the firm by measuring the degree of technical efficiency achieved by actual firms. What type of research contributions are provided by these studies?
A) Normative B) Positive C) Administrative D) Executive