An industry has a single firm, and is found to have violated antitrust laws. The government breaks its up into two firms that will share the market equally. The Herfindahl index for this industry would change from:

If rapid increases in oil prices caused price levels to increase and real GDP to decrease in the short run, the economy would experience

A) an increase in the natural rate of unemployment. B) stagflation. C) long-run economic decline. D) hyperinflation.

The more that firms in an economy believe that the demand for their goods is mainly influenced by the aggregate level of demand and not "local conditions," the ________ is the SAS curve and thus the ________ are cycles in real GDP

A) steeper, larger B) steeper, smaller C) flatter, larger D) flatter, smaller