Concentration Ratios

question 201

Multiple Choice

Concentration ratios

• A) refer to the concentration of customers in a certain area.
• B) measure whether the market is dominated by a small number of firms.
• C) measure the concentration of a large number of firms in a certain area.
• D) have high values for perfect competition.
• E) measure how concentrated a firm's sales are among certain types of goods.

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Definitions:

Natural Rate

A concept referring to the level of economic activity or rate (such as unemployment) that corresponds to the economy's long-term potential or equilibrium state.

Long-run Unemployment

A situation where the unemployment rate persists at a high level for a long period of time, often due to structural changes in the economy.

Bureau of Labor Statistics

A U.S. government agency responsible for collecting and reporting data on employment, labor market activity, working conditions, and price changes.

Average Workweek

The average number of hours worked per week by employees in a specific sector or economy.