Which of the following is not an example of a barrier to entry?
a. A soybean farmer is the first in her county to use a new brand of fertilizer.
b. Microsoft obtains a copyright for its Windows operating system.
c. A pharmaceutical company obtains a patent for a new medication to treat migraine headaches.
d. A taxi cab driver in New York City obtains a license to legally provide transportation in New York City.
a
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Compared to 1960-79, U.S. net national saving form 1980-92 as a proportion of national income
A) rose tremendously. B) rose slightly. C) fell slightly. D) fell precipitously.
In an economy that relies upon barter,
a. trade does not require a double coincidence of wants. b. scarce resources are allocated just as easily as they are in economies that do not rely upon barter. c. there is no item in the economy that is widely accepted in exchange for goods and services. d. All of the above are correct.
Factories owned by U.S. firms on the Mexican side of the U.S.-Mexico border are:
A. harmful to Mexico's efforts to increase their economic growth. B. troubling for the Mexican government. C. not an example of foreign direct investment in Mexico. D. an important source of foreign direct investment in Mexico.
A strength of the market economy is that:
A. it results in an equal distribution of wealth. B. resources are used efficiently. C. planners rather than consumers determine answers to the basic economic questions. D. information for production and distribution decisions passes directly from the government to buyers.