Which of the following is a barrier to entry?
A. Close substitutes
B. Infrastructure costs
C. Diminishing marginal returns
D. Buyers' incomes
Answer: B
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In which of the following countries has economic growth been sufficiently strong in recent history to propel that country from being among the poorest in the world to being among the richest in the world?
A. India B. Mexico C. Nigeria D. Singapore
Refer to Table 16-4. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy
If Congress and the president use fiscal policy successfully to keep real GDP at its potential level in 2017, which of the following will be lower than if Congress and the president had taken no action? A) real GDP and potential GDP B) potential GDP and the inflation rate C) real GDP and the inflation rate D) real GDP and the unemployment rate