Which of the following is not a barrier to entry that is created by government?
A) Economies of scale.
B) Licenses.
C) Regulatory restrictions.
D) Patents.
A
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Which of the following would not act as an automatic stabilizer?
A) Unemployment insurance B) Government purchases C) Personal income taxes D) Corporate income taxes
When we say the U.S. economy has grown on average at 2.1%, we mean
A) the inflation rate. B) the growth rate of nominal GDP. C) the growth rate of per-capita nominal GDP. D) the growth rate of per-capita real GDP.
Vertical contracts aim to
a. Incentivize the manufacturers to undertake costly activities, which they may not realize the full benefits of on their own b. Incentivize the retailers to undertake costly activities, which they may not realize the full benefits of on their own c. Incentivize the retailer and the manufacturer to undertake activities that reduce profits for the supply chain d. Both A&B
Suppose the demand for cigarettes was P = 100 - 5Q, and the supply for cigarettes was P = 5Q. The market equilibrium price in this market would be:
A. $100 B. $20 C. $5 D. $10