Answer to Question #192646 in Economics for Amirun

Question

1.Barriers to entry.

A.Exist only in perfectly competitive markets.

B.restrict the number of firms in and industry.

C.Limit the size of an industry.

D.Do not affect the number of firms in an industry.

2.Which of the following is true?

A.Firms only earn income from consumption.

B.Household pay wage,interest,rent and profit.

C.Tax,as a leakage,supports government spending.

D.Net export is positive.

3.Which of the following measures help the government to promote economic welfare?

A.Stabilising inflation rate.

B.Increase private universities.

C.Increase foreign students.

D.Allow a higher import.

Answer 1

1) The correct answer is B) Restrict the number of firms in and industry.

2) The correct answer is C) Tax, as a leakage, supports government spending.

3) The correct answer is A) Stabilising inflation rate.