Which of the following is an input to the production process?

Supply-side economists argue that changes in tax rates cause changes in

A) labor supply. B) the full-employment level of output. C) saving. D) all of the above.

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.