What are property rights?
A) the title to ownership of any physical asset
B) the rights individuals or firms have to the exclusive use of their property, including the right to buy or sell it
C) a legal document verifying ownership of intangible assets
D) the right of the government to appropriate private assets for the good of society
B) the rights individuals or firms have to the exclusive use of their property, including the right to buy or sell it
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Refer to Figure 19.2. The total utility of two apples is
A. 6 utils. B. 2 utils. C. 5 utils. D. 11 utils.
Empirical research seems to verify that:
A. the rate of inflation seems to vary directly with the amount of central bank independence. B. countries that have high rates of inflation seem to have central banks with low levels of independence. C. there is no relationship between the independence of central banks and rates of inflation. D. countries that have less independent central banks experience lower rates of inflation.
Considering a bank's balance sheet, which of the following statements is false?
A. Total Bank Liabilities = Total Bank Assets - Total Bank Capital B. Total Bank Capital = Total Bank Assets - Total Bank Liabilities C. Total Bank Assets = Total Bank Liabilities + Total Bank Capital D. Total Bank Assets + Total Bank Liabilities = Total Bank Capital
Xerox and AT&T are examples of companies that
A. reaped little benefit from the major innovations they created. B. earned too little profit to have money to invest in R&D. C. earn most of their revenues from licensing the patents they own. D. face so little competition that they see no need to innovate.