If 10 firms share the sales of the market equally, the four-firm concentration ratio is ________ percent

The crowding-out effect implies that restrictive fiscal policy will

a. increase aggregate demand and employment. b. lead to a significant increase in the natural rate of unemployment. c. be highly effective against inflation. d. reduce real interest rates.

If individual X has comparative advantage in painting and individual Y has comparative advantage in carpentry, then

A) individual X must use fewer hours to paint a fence than individual Y. B) individual Y will specialize in painting. C) there is a lower opportunity cost (expressed in units of carpentry) for individual X to paint than for individual Y to paint. D) specialization will not occur, since each does not have a clear absolute advantage.