A barrier to entry that grants exclusive use of an invented product or process to the inventor is called

A. a government franchise.
B. economies of scale.
C. a patent.
D. the ownership of a scarce resource.


Answer: C

Economics

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A trend shows

A) the degree of correlation between two variables. B) the general tendency for a variable to rise or fall. C) the scale used to measure to variables. D) the increases in one variable.

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A monopolistically competitive market is described as one in which there are

A) a large number of firms selling similar, but not identical, products. B) one large firm and many small firms producing identical products. C) a few firms producing an identical product. D) a few firms producing differentiated products.

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If a bank has excess reserves of $15,000 and demand deposit liabilities of $80,000, and if the reserve requirement is 20 percent, then the bank has total reserves of

A) $11,000. B) $21,000. C) $31,000. D) $41,000.

Economics

An example of fiscal policy would be government:

A. increasing the amount of available educational grants. B. decreasing the income tax. C. increasing corporate income taxes. D. increasing money supply.

Economics