If the Herfindahl-Hirschman Index for an industry is 8,528, is the industry competitive or concentrated?
What will be an ideal response?
With a Herfindahl-Hirschman Index of 8,528, the industry is quite concentrated or, in other words, the industry is not very competitive.
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Between 1973 and 1995, what changes occurred in the labor force and the capital stock that caused a productivity slowdown?
A) The growth of the capital stock and the growth of labor hours increased. B) The growth of the capital stock and the growth of labor hours slowed. C) The growth of the capital increased slowed and the growth of labor hours slowed. D) The growth of the capital stock slowed and the growth of labor hours increased.
Unemployment in the economy is represented by:
a. a rightward shift of the production possibilities curve b. points inside the production possibilities curve c. a change to a new point on the PPC d. a movement outside the PPC