Which of the following is not a barrier to entry?
a. Legal restrictions
b. Patents
c. Large sunk costs
d. Survivor rights
d
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If too little of a good is being produced in the free market, the production of the good is likely to have a(n) ________ externality
A) positive B) negative C) pecuniary D) absolute
The money supply consists of
A) currency alone. B) currency and checking accounts. C) checking and savings accounts. D) currency and checking and savings accounts. E) checking accounts alone.
Since demand curves are mostly downward sloping, economists tend to ignore the negative sign when calculating the price elasticity of demand
a. True b. False Indicate whether the statement is true or false
Economic growth depends on many factors including adherence to ____________ rights.
a. contractual b. business c. animal d. immigrant