Entry into a market characterized by monopolistic competition is generally
A. Entirely blocked by existing firms.
B. More difficult than entry into monopolized markets.
C. As difficult as in oligopoly.
D. Very easy because few barriers exist.
Answer: D
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A proponent of supply-side economics would advocate
A. reducing income taxes on saving. B. reducing tax credits for research and development. C. eliminating the depreciation allowance. D. increasing the corporate income tax.
In 1860 the ratio of farmers to manufacturing workers was roughly ____ ; by 1910 that ratio was ____
a. 1:1; 1:5 b. 1:3; 1:1 c. 3:1; 1:1 d. 10:1; 1:1
Refer to Figure 13A.1. When the economy reaches K, total saving is represented by point ________ and depreciation is represented by point ________.
A. e; Y B. e; e C. Y; e D. Y; Y
Use the following table to answer the question below. Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800 Jake's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn. Jane's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 2,1 B. 1/4, 1 C. 4,1 D. 1,2