For most people, the problems of inflation are caused by the fact that
A) the inflation is unanticipated.
B) the inflation is anticipated.
C) the inflation rate causes the purchasing power of money to increase.
D) all prices change so there is no way to protect themselves against the decline in their wealth.
A
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There are 30 firms in an industry. What happens to that industry's four-firm concentration when the third- and fourth-largest firms merge?
A) Nothing, because their shares are already included in the concentration calculation. B) The industry's concentration ratio will fall. C) The industry's concentration ratio will increase. D) It is impossible to know without more information.
One reason that deadweight losses are so difficult to avoid is that
a. taxes affect the decisions that people make. b. income taxes are not paid by everyone. c. consumption taxes must be universally applied to all commodities. d. the administrative burden is hard to calculate.