Classical economists believe that in the short run
A) money neutrality exists and prices adjust rapidly.
B) money neutrality does not exist and prices adjust rapidly.
C) money neutrality exists and prices do not adjust rapidly.
D) money neutrality does not exist and prices do not adjust rapidly.
A
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The table above shows sales of the firms in the chocolate industry. The four-firm concentration ratio in the industry is
A) 52 percent. B) 65 percent. C) 72 percent. D) 80 percent.
Carlos can buy either sushi or eggrolls. If the prices of sushi and eggrolls triple and Carlos's money income doubles, we can deduce that Carlos's budget constraint will
A. shift out but remain parallel to the old one. B. shift in but remain parallel to the old one. C. swivel in so that the slope of the budget constraint is doubled. D. remain unchanged.