A barrier to entry
A) makes it illegal for firms to enter the industry.
B) can be thought of as unrelated to monopoly.
C) slows or even prevents entry into a market.
D) usually takes the form of a cartel.
Answer: C
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Which of the following taxes is most likely to be regressive?
A. General sales taxes B. Personal income taxes C. Corporate income taxes D. Estate taxes
A country that is saving more than it is investing domestically
A. has a trade disequilibrium. B. has a financial account surplus. C. has a current account surplus. D. has a trade balance.
The marginal productivity theory of income distribution has been criticized because:
A. the resulting distribution of income is likely to be too equal to maintain production incentives. B. income from inherited property is inconsistent with the theory. C. purely competitive conditions characterize most resource markets. D. it fails to recognize that resource demand is derived from product demand.
Consider the following game. You roll a six-sided die and each time you roll a 1, you get $50. For all other outcomes you pay $10. Since the expected value of this game is $0, the game is called a(n)
A. even game. B. zero sum game. C. fair bet. D. gamble.