The high cost of advertising and promoting a new product in a market dominated by well established brands cannot be recovered if the product fails. The prospect of risking the loss of hundreds of millions of dollars on a failed consumer product can serve as a considerable barrier to entry
Indicate whether the statement is true or false
true
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The total population of an economy is 175 million, the labor force is 125 million, and the number of employed workers is 117 million. The unemployment rate for this economy is
A. 7%. B. 3%. C. 6%. D. 5%.
Explain the differences between inclusive and extractive economic institutions
What will be an ideal response?
Which of the following "factors of production" is included in the neoclassical growth theory?
A) skills and education of the workforce B) cultural attitudes toward work C) effectiveness of the legal system in protecting property rights D) labor measured in units of effective labor E) all of the above
Refer to the figure at right. Minimum efficient scale is at output rate
A. Q1
B. Q2
C. Q3
D. Q5