A patent is an example of
A) how ownership of a key input creates a barrier to entry.
B) a government-imposed barrier to entry.
C) how market failure can lead to oligopoly.
D) occupational licensing.
B
You might also like to view...
In 1971 money market mutual funds were introduced as an alternative to
A) commercial paper. B) Treasury bills. C) repurchase agreements. D) bank deposits.
All other things constant, an increase in the wage rate will: a. decrease the quantity of labor supplied. b. increase the quantity of labor supplied. c. increase the supply of labor
d. decrease the supply of labor.
Automatic stabilizers include
A. Deregulation. B. Open market operations. C. Discretionary tax cuts. D. Unemployment benefits.
Which of the following factors is not part of an individual's stock of human capital?
A. Initiative B. Intelligence C. Years of education D. Employment status