If an industry has exactly 10 firms with identical sales, the four-firm concentration ratio must be:

If you negotiated a salary based on an anticipated inflation rate of 4 percent, and the actual inflation rate turned out to be 6 percent

A) your employer would have gained at your expense. B) your real wage will increase, but your nominal wage will decrease. C) the purchasing power of your wages will not change, since purchasing power is based on your nominal wage. D) the purchasing power of your real wages would be more than you anticipated.

If the United States could produce 4 tons of potatoes or 2 tons of wheat per worker per year, while Ireland could produce 3 tons of potatoes or 2 tons of wheat per worker per year, the country with the comparative advantage in producing wheat is ____ and the country with the absolute advantage in producing potatoes is ____

a. the United States; the United States b. the United States; Ireland c. Ireland; the United States d. Ireland; Ireland