When economists talk about a barrier to entry, they are referring to
a. a factor that makes it difficult for potential competitors to enter a market.
b. the opportunity cost of equity capital that is incurred by a firm producing at minimum total cost.
c. the downward-sloping portion of the long-run average total cost curve.
d. the declining output experienced as additional units of a variable input are used with a given amount of a fixed input.
A
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A Treasury bill with an original maturity of six months currently sells for $972.58. The bill was issued 30 days ago. An investor who purchases this bill today would have a bond equivalent yield of __________ percent
A) 6.49 B) 6.77 C) 5.58 D) 5.65
Inheritance accounts for about
A) 5 percent of income inequality. B) 10 percent of income inequality. C) 15 percent of income inequality. D) 30 percent of income inequality.