Which of the following represents a serious barrier to entry?
a. high fixed cost
b. low fixed cost
c. easy access to acquiring resources
d. no history of patents in the industry
e. very elastic demand for the good
A
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Using the information in the table above, depreciation equals
A) -$90 billion. B) $90 billion. C) -$70 billion. D) some amount that cannot be determined.
In real life, people's behavior is constrained by:
A. laws of nature. B. legislated rules of society. C. costs of various actions. D. All of these are rules that constrain people's behavior.
If the marginal propensity to consume (MPC) is 0.50, the value of the spending multiplier is:
a. 5. b. 1. c. 2. d. 5.
There is a recessionary gap when
A. equilibrium GDP is equal to full employment GDP. B. equilibrium GDP is smaller than full employment GDP. C. equilibrium GDP is larger than full employment GDP. D. None of the choices are correct.