question
most likely to increase the Herfindahl index of a particular industry
answer
A horizontal merger
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a merger between an automobile manufacturer and a maker of automobile tries is an example of:
answer
vertical merger
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When considering business regulation, behaviorists believe that:
answer
industries should be judged on the basis of their price-output behavior and their technological progressiveness
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social regulation differs from industrial regulation in that:
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social regulation applies to ALL industries. industrial regulation applies to a restricted number
question
The public interest theory of industrial regulation contends that:
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The objective of regulation is to protect the public from the market power inherent in natural monopolies
question
Suppose the firms in a five-firm industry have market shares of 30,30,20,10, and 10 percent, respectively, the Herfindahl index for the industry is:
answer
2,400
question
Farm groups spend considerable amounts of money to maintain and enlarge political support for farm subsidies. This illustrates:
answer
rent-seeking activity
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the food-stamp program which provides vouchers to the poor to be used to purchase food is designed to have what effect in the market for farm products
answer
increase the demand
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over time, technological change has:
answer
increased productivity in agriculture and reduced the prices of farm products
question
insurance companies : Craig Raymond, safer driver than avg woman under 25.. pays more than avg woman under 25
answer
statistical discrimination
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"taste for discrimination"
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a bad practice because it raises costs by keeping out talented workers from certain groups
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each of the following contributes to income equality except:
answer
government transfers
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income mobility
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the movement of individuals and household from one income quintile to another over time
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the problem of assumetnric information is that
answer
health care providers are well-informed, but buyers are not
question
based on what we've learned abiout income and the demand for health care we can conclude that health care:
answer
is a normal good
question
which of the following is correct?
answer
rising health care costs are a major cause of limited access to the health care system
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the US devotes about ____% of its domestic output to health care
answer
17%
question
illegal immigration positively contributes to the us standard of living by reducing
answer
prices of goods and services produced with illegal immigration labor
question
which of the following statements is true about the effects of illegal immigration in the US?
answer
illegal immigration has a negative fiscal impact that falls most heavily on state and local governments
question
a person will be more likely to migrate the:
answer
greater the distances they will have to travel from the country of origin
question
"remittances" occur when:
answer
immigrants and financial payments back to family in their country of origin
question
which of the following cases best illustrates economic immigration?
answer
Julio migrated to Australia to take a job paying 3x what he earned at home
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