Which of the following is not an artificial barrier to entry?
A. a patent
B. government franchise
C. large economies of scale
D. government licensing
Answer: C
You might also like to view...
In the Classical model, high unemployment ________.
A. occurred when the equilibrium GDP was too low B. could last for a long period of time C. would cause wages to fall D. required government intervention to reduce it
Collective bargaining
A. is bargaining between unions and management. B. has nothing to do with fringe benefits. C. is practiced in non-union related disputes. D. is illegal in many states.
Transactions costs are
A) zero in financial markets. B) zero in financial intermediaries. C) the costs of direct financial transactions. D) equal to the taxes imposed on financial transactions.
Poverty is usually defined by economists in relative terms
a. True b. False Indicate whether the statement is true or false