What is the Herfindahl-Hirschman Index if the four firms in an industry account have market shares of 62 percent, 15 percent, 15 percent, and 8 percent?

The unemployment rate was increasing from 6 percent to 7 percent could be interpreted as an increase in the natural rate of

a. inflation. b. unemployment. c. economic growth. d. aggregate supply.

With time, which one of the following strategies will most likely result in an outward shift in an economy's production possibilities curve?

a. passage of legislation reducing the workweek to 30 hours b. institution of a tax policy encouraging research that advances technology c. institution of a tax policy encouraging consumption at the expense of investment d. passage of a law requiring the minimum wage to increase every year