Each of the following is a legal barrier to entry into an industry except
A. government licensing.
B. patents.
C. government franchising.
D. All of these choices are legal barriers.
D. All of these choices are legal barriers.
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In a closed economy, public saving is equal to which of the following? (Y = GDP, C = Consumption, G = Government purchases, T = Taxes, and TR = Transfers)
A) T - G - TR B) Y - C - T + TR C) Y - G - T D) Y - C - T
The economic system in which the basic economic questions are answered through markets with some government intervention is a:
a. command economy. b. mixed economy. c. market economy. d. planned economy.
Some people have argued that the government should provide free medical care to everyone. Under this system:
A. the price of medical care will ration resources efficiently. B. prices will not ration medical care so there will be no scarcity. C. the price of medical care will allocate resources efficiently. D. prices will not ration medical care so some other rationing method will be used.
Which of the following has contributed to developing countries' poor economic performance?
A. low population growth B. a high saving rate C. corruption D. foreign direct investment