As foreign imports become a greater percentage of sales in oligopolized industries, the concentration ratio
A. becomes more accurate as a measure of concentration.
B. becomes less accurate as a measure of concentration.
C. continues at the same level of accuracy.
B. becomes less accurate as a measure of concentration.
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The tax incidence on sellers is higher if ________
A) the buyers and sellers of a good are equally sensitive to price changes B) the buyers are more sensitive to price changes than the sellers C) the sellers are more sensitive to price changes than the buyers D) the number of buyers in a market is larger than the number of sellers
Which of the following applies to money when it serves as a store of value?
I. Money is a store of value because it is an agreed measure for stating goods' prices. II. The more stable money's value, the better it serves as a store of value. III. When money serves as a store of value, it requires a double coincidence of wants. A) I only B) II only C) I and II D) II and III