A common argument in favor of restricting international trade in good x is based on the premise that
a. international trade reduces total surplus in countries that export good x.
b. international trade reduces total surplus in countries that import good x.
c. international trade is desirable only when countries with different domestic supplies of natural resources play by different rules when trading with one another.
d. trade restrictions can be useful when one country bargains with its trading partners.
d
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Demand for real money balances depends on ________
A) the price level B) the real interest rate C) the opportunity cost of holding money D) all of the above E) none of the above
If the firms in an industry represented 35%, 25%, 20%, 15%, and 5% of the market's total revenues, respectively, what would be the measure of the Herfindahl-Hirschman Index for this industry?
a. 2,500 b. 3,525 c. 7,725 d. 10,000