In the IO perspective, it is important to enter an industry with
a. High barriers to entry
b. High buyer power
c. High supplier power
d. All of the above
a
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In an expansion, federal tax revenues increase proportionally more than real GDP without the need for any government policy. This increase is an example of
A) the effect of deficit spending. B) discretionary fiscal policy. C) automatic fiscal policy. D) automatic monetary policy. E) discretionary monetary policy.
Economic growth comes from ________
A) people willing to increase their skills in which case, economic growth is free B) producing more goods than people want to consume C) capital accumulation and the avoidance of opportunity cost D) capital accumulation and technological advance
Which of the following is true of labor force participation rates?
a. In 2000, 64.8% of all workers were men.
b. In 1950, 33.9% of all workers were women.
c. In 2000, labor force participation for men fell for the first time.
d. In 2010, labor force participation for women fell for the first time.
Isoquants that are downward-sloping straight lines exhibit
A) an increasing marginal rate of technical substitution. B) a decreasing marginal rate of technical substitution. C) a constant marginal rate of technical substitution. D) a marginal rate of technical substitution that cannot be determined.