Which of the following is not potentially a barrier to entry into a product market?
a. patent protection on the design of the product
b. the absence of economies of scale in the product market
c. government licensing of the product's producers
d. the control of a crucial input necessary to produce the product
b
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An increase in disposable income
A. decreases consumption because it shifts the consumption schedule downward. B. increases consumption because it shifts the consumption schedule upward. C. increases consumption by moving upward along a given consumption schedule. D. decreases consumption by moving downward along a given consumption schedule.
Why is it likely that a market economy will perform better than a command economy?
What will be an ideal response?
The potential output of an economy is _____
Fill in the blank(s) with the appropriate word(s).
An inflationary spiral can emerge when
A. Desired spending at full employment falls short of full-employment output. B. Actual investment equals desired investment. C. An increase in investment exceeds available savings. D. Desired leakages exceed desired injections.