Governments and legislatures can erect barriers to entry. Which of the following would NOT be one of them?
A. licenses
B. patents
C. tariffs
D. laws that ensure property rights
Answer: D
You might also like to view...
Refer to Figure 27-5. In the dynamic model of AD-AS in the figure above, if the economy is at point A in year 1 and is expected to go to point B in year 2, Congress and the president would most likely
A) increase taxes. B) increase oil prices. C) increase government spending. D) lower interest rates. E) decrease government spending.
Total factor productivity in railroads _____________ in the 20 years prior to the Civil War
a. decreased slightly b. remained largely unchanged c. increased by about 25 percent d. more than doubled
To approximate the percentage change in real income over any period of time,
a. we need to subtract the percentage change in nominal income from the inflation rate b. we need to subtract the rate of inflation from the percentage change in nominal income c. we need to divide the percentage change in nominal income by the inflation rate d. we need to multiply the change in income by the inflation rate e. we need to multiply the nominal percentage change in income by the percentage change in inflation rate
Which account of the balance of payments is most likely to be directly affected by a rise in real GDP?
a. Current international transactions b. Net nonreserve-related international borrowing/lending c. Official reserve-related (central bank) transactions d. None.