Measures of concentration
A) refer to the concentration of customers in a certain area.
B) measure whether the market is dominated by a small number of firms.
C) measure the concentration of a large number of firms in a certain area.
D) have high values for perfect competition.
E) measure how concentrated a firm's sales are among certain types of goods.
B
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The Trans-Pacific Partnership (TPP) is an agreement between the United States and ________ that was meant to reduce trade barriers
A) South America B) the European Union C) China D) eleven other countries
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower