In the IO perspective, it is important to enter an industry with
a. High barriers to entry
b. Low buyer power
c. Low supplier power
d. All of the above
d
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In economics, the term "leisure" refers to:
A. nonwork activities that individuals enjoy doing. B. those activities that individuals enjoy doing. C. all nonwork activities. D. the vacation time on receives when working.
When each country specializes in producing the good for which it has a comparative advantage:
A. both countries may benefit. B. both countries always enjoy equal gains from trade. C. the country that is bigger will gain more surplus. D. the country with the weaker economy will gain more surplus.
Which of the following is not included in the government's spending on security?
a. aircraft carriers b. police stations c. fire trucks d. highways e. county jails
Large and efficient agricultural producers like Argentina and Australia protect that sector heavily
Indicate whether the statement is true or false