New social regulations usual are created as barriers to entry
Indicate whether the statement is true or false
True
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Using the data in the above table, if potential GDP for this economy is $25 billion, then in order to restore full employment, the federal funds rate can be
A) lowered so that government expenditure on goods and services increase. B) raised so that consumption expenditure, investment, and net exports increase. C) lowered so that consumption expenditure, investment, and net exports increase. D) raised so that net exports increase. E) lowered so that consumption expenditure and investment increase, though net exports decrease.
Which of the following statements is correct? Classical economists
a. believe demand as well as supply determines aggregate output. b. believed in an active role for government in managing the economy through tax policy. c. gave little explicit attention to factors that determined the overall demand for commodities. d. were worried about depressions that could come about because of too little government consumption.
The amount of U.S. exports purchased by the rest of the world is primarily determined by
a. real disposable income in the United States b. real disposable income in other nations c. the real interest rate in other nations d. the real interest rate in the United States e. the government budget deficits in other nations
Monopolistic competition differs from perfect competition because in monopolistically competitive markets
a. there are barriers to entry. b. all firms can eventually earn economic profits. c. each of the sellers offers a somewhat different product. d. strategic interactions between firms are important.