Which school of economic thought is most closely associated with calls for monetary rules to guide monetary policy decisions?

There are six firms in an industry, with market shares of 50 percent, 25 percent, 10 percent, 10 percent, 3 percent and 2 percent. The four firm concentration ratio is ________, and the HHI is ________

A) 100; 100 B) 95; 3338 C) 95; 10,000 D) 100; 3338

Faced with a decrease in the demand for its product, a monopolist will lower prices and maintain output at its previous level if

A) the gain in profit is less than the increase in real wages paid. B) the gain in profit is less than the decrease in real wages paid. C) the gain in profit is less than the menu costs. D) the gain in profit is greater than the increase in menu costs.