Anything that prevents new firms from competing on an equal basis with existing firms in an industry is called a barrier to entry

Refer to Table 17.1. The employment rate for this simple economy is

A) 40%. B) 50%. C) 75%. D) 80%.

Agriculture, clothing, and textiles are singled out for treatment in the chapter because

A) they tend to be the most highly protected sectors of industrial economies. B) they tend to be the least-protected sectors internationally. C) the policies of high-income nations in these sectors may have harmful effects in low-income countries. D) A and C are both correct. E) B and C are both correct.