Which of the following is NOT a barrier to entry?
A. patents
B. U.S. antitrust legislation
C. economies of scale
D. licenses
Answer: B
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In the 1980s, some states in the United States had significantly more bank failures than other states. What industries did the former states depend on heavily?
a. Oil and agriculture b. Tourism c. Defense and aeronautics d. Construction and textiles e. The computer industry
Use the data in the following table for a private closed economy to answer the next question. All figures are in billions of dollars.Domestic Output or Income (RGDP = DI)Consumption$540$540560555580570600585620600640615660630The MPC and multiplier are, respectively,
A. 0.75 and 1.33. B. 0.80 and 1.25. C. 0.80 and 5. D. 0.75 and 4.
A study of consumers in an area found that as family income increased from $25,000 per year to $35, 000 per year, other factors held constant, the number of houses purchased increased from 7,000 per year to 11,000 per year. This finding indicates an income elasticity of demand coefficient for housing over this family income range of:
A. 0.22. B. 0.75. C. 1.33. D. 4.50.
Why would a higher tax rate lower the government purchases multiplier? What does the tax rate have to do with the government purchases multiplier?
What will be an ideal response?