If the government increased its purchases of goods and services by $12,000, and this resulted in an eventual increase in GDP and income of $60,000, the MPS would be equal to

Rank the following goods from least to most elastic: compact cars, convertible compact cars, cars

A) Cars, convertible compact cars, compact cars B) Compact cars, convertible compact cars, cars C) Convertible compact cars, compact cars, cars D) Cars, compact cars, convertible compact cars

In an oligopoly with two firms, one firm's share of the market is 70 percent. The Herfindahl-Hirschman Index is ________

A) 4,900 B) 0.7 C) 5,800 D) 100