Author Question: The higher the concentration ratio is in an industry, the more likely it is that A) the industry ... (Read 32 times)

mcmcdaniel · **on:** Jun 29, 2018

The higher the concentration ratio is in an industry, the more likely it is that

A) the industry is perfectly competitive.
B) the market share of the smallest four firms is larger.
C) the market share of the largest four firms is smaller.
D) the industry has an oligopoly.

Question 2

Full employment is not zero unemployment because

A) there are statistical errors when determining the unemployment rate that cannot be overcome.
B) there is normal friction in the economy made up of those workers who are between jobs and those new entrants to the labor force.
C) there are undocumented workers in the economy who are not counted by the Bureau of Labor Statistics.
D) government workers are not counted in the labor force.