Which of the following is not considered a barrier to entry?
A.) Control of essential factors of production
B.) Equilibrium pricing
C.) Import quotas
D.) Brand loyalty
B.) Equilibrium pricing
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Immigrants made up approximately what percent of the labor force in the U.S. in 2007?
A. 5% B. 25% C. 16% D. 33%
Of the four effects on interest rates from an increase in the money supply, the one that works in the opposite direction of the other three is the
A) liquidity effect. B) income effect. C) price level effect. D) expected inflation effect.
Suppose that a vaccine is developed for a highly contagious strain of flu. The likelihood that anyone will get this flu decreases as more people receive the vaccine. One of the demand curves below represents the private demand for the vaccine and the other represents the social demand for the vaccine.
At the private market equilibrium, the deadweight loss is ________ per day.
A. $0 B. $500 C. $250 D. $125
Equilibrium is unique; it is the only price-output combination that is mutually compatible with aggregate supply and demand.
Answer the following statement true (T) or false (F)