In the new Keynesian model, if an aggregate demand increase is unanticipated, then ________
A) aggregate demand will not change
B) short-run aggregate supply will shift up immediately
C) short-run aggregate supply will shift down immediately
D) there is no immediate effect on the short-run supply curve
D
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The Herfindahl-Hirschman Index is used as a guideline to determine if a market is competitive or concentrated. Calculate the index value for each market described below
a. 100 firms, each of which produces 1 per cent of market output b. 50 firms, each of which produces 2 per cent of market output c. 25 firms, each of which produces 4 per cent of market output d. 20 firms, each of which produces 5 per cent of market output e. 10 firms, each of which produces 10 per cent of market output f. 5 firms, each of which produces 20 per cent of market output g. 2 firms, each of which produces 50 per cent of market output
To know the customer is to understand costs
Indicate whether the statement is true or false