Assume that the economy grows by 3 percent, total factor productivity grows by 2 percent, and the labor force grows at 2 percent. If labor contributes 40 percent to real GDP, then the stock of capital must have risen by 0.33 percent

There are four firms in the cement industry in Richland. Firm A has a market share of 30%, Firm B has a market share of 20%, Firm C has a market share of 25%, and Firm D has a market share of 25%

The Herfindahl-Hirschman Index for the cement industry is ________. A) 50 B) 100 C) 2,550 D) 4,000

Which of the following must be true if good X is a normal good and income increases?

a. The demand for X will increase, and thus the price and quantity sold and bought will decrease. b. The demand for X will decrease, and thus the price and quantity sold and bought will decrease. c. The demand for X will increase, and thus the price and quantity sold and bought will increase. d. The demand for X will decrease, and thus the price and quantity sold and bought will increase. e. The demand for X will increase, and thus the price and quantity sold and bought will remain the same.