Freedom of entry into a market tends to preserve
A) competition.
B) abnormal profits.
C) social justice.
D) the gap between the price of a good and marginal cost.
A
You might also like to view...
Under purchasing power parity (PPP), if U.S. monetary growth leads to a long run doubling of the U.S. price level, while Germany's price level remains constant, PPP predicts that the
A) long-run DM price of the dollar will be doubled. B) long-run DM price of the dollar will be halved. C) long-run DM price of the dollar will remain the same. D) short-run DM price of the dollar will be halved. E) short-run DM price of the dollar will be doubled.
Which of the following is an example escape clause relief?
A) A tariff is granted because foreign firms are selling below cost. B) A temporary tariff is granted to allow for adjustment of the domestic industry. C) A tariff is granted to an industry because foreign firms are subsidized by their governments. D) A tariff is granted to an industry because another nation persistently uses unfair trade practices.