The long-run Phillips curve applies when the economy is at full employment, so the long-run Phillips curve is ________, which demonstrates that changes in the inflation rate ________ effect on unemployment
A) horizontal; have no
B) an upward sloping straight line with a 45 degree slope; have an
C) vertical; have no
D) vertical; have an
E) a downward sloping straight line with a 45 degree slope; have an
C
Economics
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Firms exist because of the low cost associated with creating complete contracts
Indicate whether the statement is true or false
Economics
If an industry is dominated by three large producers whose revenues represent 30%, 30%, and 30% of the market's total revenues with the remaining two firms each representing 5%, what would be the measure of the Herfindahl-Hirschman Index for this industry?
a. 2,725 b. 2,750 c. 9,975 d. 10,000
Economics