Barriers to entry are forces that:
A. promote a more efficient allocation of resources across the economy.
B. limit the government from intervening in markets.
C. limit consumers from purchasing new products.
D. limit new firms from joining an industry.
Answer: D
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In the DMP model, a decrease in matching efficiency
A) has no effect on vacancies. B) reduces the unemployment rate. C) increases labor market tightness. D) increases the size of the labor force.
Explain why the LDCs are unable to invest much in capital goods and human capital
Economist B says all of the following: The economy needs expansionary fiscal policy to remove it from a recessionary gap. Government should either raise its __________ or cut _________________. I believe the tax multiplier is larger than the government spending multiplier, so I suggest government ___________________
A) taxes; spending; cut taxes B) spending; taxes; cut taxes C) taxes; spending; raise spending D) spending; taxes; raise spending E) none of the above
If the quantity supplied is infinitely responsive to any change in price, the supply curve is:
A. upward sloping. B. downward sloping. C. horizontal. D. vertical.