Which of the following is a legal barrier to entry?
i. public franchise
ii. government license
iii. patent
A) iii only
B) i and iii
C) ii and iii
D) i, ii, and iii
E) i and ii
D
You might also like to view...
Specializing in the production of a good or service in which one has a comparative advantage enables a country to do all of the following except
A) engage in mutually beneficial trade with other nations. B) produce a combination of goods that lies outside its own production possibilities frontier. C) consume a combination of goods that lies outside its own production possibilities frontier. D) increase the variety of products that it can consume with no increase in resources.
In the United States, the death rate has been decreasing for a number of reasons. According to the book which is not a reason
a. Decrease in infant mortality b. Increase in life expectancy c. Out migration d. Declining rates of heart disease
If the economy is experiencing inflation, then the most appropriate government policy would be to:
a. shift the aggregate demand curve by using a tax increase coupled with spending cuts. b. shift the aggregate demand curve by using a tax increase coupled with more spending. c. shift the aggregate demand curve by using a tax cut coupled with spending cuts. d. shift the aggregate demand curve by using a tax cut coupled with more spending. e. shift the aggregate supply curve by using a tax cut coupled with spending cuts.
The table below shows the units of land and labor required to produce a unit of bread and cheese respectively in Country X. If Country X is a relatively land-abundant country, the opening up of free trade would cause the price of bread relative to cheese to 1 Unit of Bread1 Unit of CheeseLabor Input5 units20 unitsLand Input4 units10 units
A. initially rise but fall afterward. B. fall. C. stay the same. D. rise.