An individual with a new idea for a product, such as someone who invents a new toy, will often take their idea to large manufacturers who have the wherewithal to produce and market their ideas. This barrier to entry is called _______________________.
Fill in the blank(s) with the appropriate word(s).
required scale for innovation
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Which of the following statements best describes the study of economics?
A. Economics studies how the Federal Reserve handles fluctuation in business cycles. B. Economics studies how individuals and groups manage scarce resources. C. Economics studies how people maximize returns in the stock market. D. Economics studies how governments determine appropriate tax rates.
Innovation is the process of turning an invention into a marketable product
a. True b. False
The anticipated effect of contractionary monetary policy is
a. increase in aggregate demand. b. fall in interest rates. c. increased capital outflow. d. appreciation of the currency.
Which of the following would not be considered part of fixed investment spending (I)?
A) Toyota buys a new robot for its automobile assembly line. B) Apple computer builds a new factory. C) Exxon increases its inventories of unsold gasoline. D) An accountant buys a newly built home for herself and her family. E) all of the above