The table above shows sales of the firms in the chocolate industry. The Herfindahl-Hirschman Index in the industry is

Which of the following contributed to the severity of the Great Depression?

a. the substantial budget surpluses run during the Hoover administration b. a sharp increase in tariff rates in 1930 c. the large reduction in tax rates under the Hoover administration d. a highly expansionary monetary policy followed by the Fed in the late 1920s and early 1930s

Which of the following is true?

a. When economies of scale are important in an industry, the domestic market of a small country may not be large enough to support cost-efficient firms. b. In small countries, firms in industries where economies of scale are important will tend to export little, if any, of their output. c. The size of the trade sector (exports plus imports) as a share of GDP will generally be larger in more populous countries than in smaller less-populated countries. d. Countries with higher trade barriers have higher growth rates.