Apple introduced its iPhone 3G in July 2008 and within a month sales had topped 3 million units. By April 2009, more than 25,000 apps for the iPhone 3G were available in the iTunes store, an indication that in a competitive market
A) entry into the market is restricted in the short run, but becomes easier in the long run.
B) the ease at which a new firm can enter a competitive market is high.
C) entry into the market is blocked.
D) the ease at which a new firm can enter a competitive market is low.
B
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Spending on financial assets ________ counted as part of GDP ________
A) are not; because their purchase is not spending on goods or services B) are; as long as their purchase produces income C) are; because the cash exchanged represents an expenditure D) are not; because interest must be paid on them E) may be; as long as their value increases
In the United States, the richest 20 percent of households receive about ________ percent of total income
A) 4 B) 15 C) 23 D) 50 E) 33