The most important barrier to entry is economies of scale
Indicate whether the statement is true or false
TRUE
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Examples of comparative advantage show how trade between two countries can make each better off. Compared to their pre-trade positions, trade makes both countries better off because in each country
A) total employment is greater. B) total welfare is greater. C) total consumption of goods is greater. D) wages are higher.
Attitudes toward public land use have changed numerous times since the late 1800s
Indicate whether the statement is true or false
The government regulates food additives
A. To restrain the market power of food producers. B. To prevent externalities. C. To keep food producers from dominating their markets. D. To assess their safety.