Patents are a barrier to entry.
Answer the following statement true (T) or false (F)
True
Barriers to entry include patents, nonprice competition, control of distribution outlets, and government regulation.
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A choice architect is someone who:
A. determines which choices are available to builders in a specific area. B. designs areas that have a lot of choices in determining how the space is used. C. is in a position to shape the decision-making environment. D. determines how people should make decisions inside of a specific environment.
A government bond is NOT as liquid as cash because the bond
A. cannot be converted to spendable dollars either until it matures or is sold to another investor. B. can be exchanged only for the goods or services produced by the company that issued the bond. C. always has a face value less than its actual value. D. must be exchanged for a stock certificate before it can be converted to spendable funds.
An expansion is usually associated with rising price levels.
Answer the following statement true (T) or false (F)
Assuming all else equal, when the labor demand curve shifts to the left, ________
A) output falls B) unemployment falls C) inflation rises D) equilibrium wage rises