List five types of barriers to entry
What will be an ideal response?
(1.) Government rules.
(2.) Patents.
(3.) Economies of scale and other cost advantages.
(4.) Ownership of a scarce factor of production.
(5.) Network effects.
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Relative to the short-run demand for gasoline, the long-run demand for gasoline is
A) probably more elastic since people need time to change automobiles and driving habits. B) probably less elastic since people need time to change automobiles and driving habits. C) probably more elastic because people can hoard this good. D) probably less elastic because people cannot store this good.
US Exports After staying around 1.35 US dollars per Euro for years, the exchange rate fell below 1.25 US dollars to a euro during the summer of 2014 . What affect does this have US exports to Europe?
The labor force typically grows faster in developing countries than in industrial ones because mortality rates are higher in low-income countries
a. True b. False Indicate whether the statement is true or false
An argument for tariffs that has some validity is
a. the infant-industry argument. b. the leveling-the-playing-field argument. c. the retaining-money-at-home argument. d. All of these.