The basic difference between the expenditure and income approaches to measuring GDP can be illustrated by transactions in the product and resource markets of the circular flow diagram

Which of the following is not considered a barrier to entry?

a. patents b. government licenses c. economies of scale d. diseconomies of scale e. control over essential resources

Let's play Jeopardy. The answer is: Because more goods are produced at lower prices and no country loses. The question is:

a. Why do countries engage in dumping? b. Why do countries retaliate? c. Why do nations trade? d. Why is comparative advantage preferred to absolute advantage? e. Why is absolute advantage preferred to comparative advantage?