________ are not a barrier to entry.
A. Patents
B. Consent decrees
C. Economies of scale
D. Government franchises
Answer: B
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The original ‘long box’ packaging of CD’s is an example of
a. a positive production externality c. an envirotech industry b. a negative production externality d. a negative consumption externality
Refer to the above diagrams. Which of the following is a feasible rate at which X and Y might be exchanged?
A. 1X for 3Y
B. 1X for 1.5Y
C. 1X for 2.5Y
D. 1X for .5Y
If two events are perfectly positively correlated, then
A) diversification is not necessary since there is no risk. B) diversification eliminates all risk. C) diversification does not reduce risk at all. D) diversification only cuts the risk in half.
The relationship between the growth rate of an economic variable, gt, and its level, yt, can be approximated by
A) gt = yt - yt - 1. B) gt = logt - log yt - 1. C) yt = log gt - log gt - 1. D) log gt = yt - yt - 1.