Accurate measurement of GDP is important to business decision-makers because this information will help them better determine the
a. general happiness of a country's citizens.
b. course of the economy and the direction of demand for their products.
c. economic well-being of a particular group within a country.
d. amount of leisure time available and the quality of life in a country.
B
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The larger the four-firm concentration ratio, the ________ competition within an industry; the larger the Herfindahl-Hirschman Index, the ________ competition within an industry
A) more; more B) more; less C) less; more D) less; less E) The premise of the question is wrong because the four-firm concentration ratio applies only to markets with four firms in it and these markets are, by definition, not competitive.
With international trade, a country will export tires. Prior to international trade, the quantity of tires produced in the country ________ the quantity of tires consumed in the country
A) must be more than B) must be less than C) might be more than, less than, or equal to D) must equal