An example of a government-imposed barrier to entry gives a firm the exclusive right to a new product for a period of 20 years from the date the product is invented. This entry barrier is known as
A) a copyright. B) an exclusive marketing agreement.
C) a patent. D) a tariff.
C
You might also like to view...
Refer to Table 3-2. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. If the price of cashews rises from $4 to $6, the market quantity demanded would
A) decrease by 39 lbs. B) increase by 33 lbs. C) decrease by 33 lbs. D) increase by 39 lbs.
Whether or not a reduction in the budget deficit is a pro-growth measure depends on how the budget deficit shrinks
a. True b. False
Suppose that the dollar real exchange rate falls by 10% against the euro, 20% against the pound, and 25% against the yen. If the United States trades equally with each country, what is the percentage decline in the real effective exchange rate?
a. 22.5% b. 18.3% c. 15.1% d. 20.3%
In 2008, the Fed followed an expansionary monetary policy, which was evident by the:
A. decrease in the repo rate from 4 percent in January to 0.25 percent in December. B. increase in the discount rate and decrease in the Fed fund rate by the same amount. C. increase in the federal funds rate from 0.25 percent in January to 4 percent in December. D. decrease in the federal funds rate from 4 percent in January to 0.25 percent in December.