If no barriers blocking entry of resources to a market exist, then __________ is said to exist.
Fill in the blank(s) with the appropriate word(s).
perfect mobility
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A monopoly is defined as a firm that has the largest market share in an industry
Indicate whether the statement is true or false
In the case of a negative externality, the entire marginal social cost curve lies
A. below the entire marginal private cost curve by the amount of the external costs associated with the negative externality. B. below the entire demand curve by the amount of the external costs associated with the negative externality. C. above the entire marginal private cost curve by the amount of the external costs associated with the negative externality. D. above the entire demand curve by the amount of the external costs associated with the negative externality. E. none of the above
Brazil's 1999 crisis was relatively short lived because
A) Brazil's financial institutions had avoided borrowing all together. B) Brazil's financial institutions had avoided heavy borrowing in local currency. C) Brazil's financial institutions had avoided heavy borrowing in dollars. D) Brazil's financial institutions had extended low-interest loans. E) Brazil's financial institutions had extended high-interest loans.
Whirlpool Corporation buys steel in sheets to manufacture refrigerators. Whirlpool also buys a new factory and a metal press to mold the steel. Which purchases are included in GDP?
A. The steel B. The steel, the factory, and the metal press C. The factory and the metal press D. The steel and the metal press