If entry into an industry was very easy, the four firm concentration ratio would not be a very useful index of the competitiveness in that industry

Over the last twenty years, real GDP in the U.S. economy has increased and there has been inflation. This indicates that

A) aggregate demand has been constant while aggregate supply has increased. B) aggregate demand has increased more than aggregate supply. C) aggregate demand has increased while aggregate supply has been constant. D) aggregate demand has increased less than aggregate supply.

When two goods are complements

A) the demands for both goods will be elastic. B) cross price elasticity of demand will be 0. C) cross price elasticity of demand will be negative. D) cross price elasticity of demand will be positive.