The Internet has created some special problems of intellectual property. One problem is that the
a. Internet is a monopoly, so the price of intellectual property exceeds marginal cost
b. Internet market has not yet reached equilibrium
c. property that can be downloaded, modified, and then re-sold
d. marginal cost of enforcing property rights exceeds the marginal benefit
e. price of intellectual property usually exceeds the marginal benefit
C
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Which of the following appears as an asset on the Federal Reserves balance sheet?
A) Commercial bank deposits B) Bank reserves C) Gold certificates D) U.S. Treasury deposits
Since 1970, the federal government budget has never been in surplus
a. True b. False Indicate whether the statement is true or false
When the nation of Mooseland first permitted trade with other nations, domestic producers of sugar experienced a decrease in producer surplus of $5 million and total surplus in Mooseland's sugar market increased by $2 million. We can conclude that
a. Mooseland became an exporter of sugar. b. the overall economic well-being of participants in the sugar market in Mooseland fell because of trade. c. consumer surplus in Mooseland increased by $7 million. d. the opening of trade caused the domestic demand curve for sugar in Mooseland to shift to the right.
An option buyer has limited loss potential (premium paid) and unlimited gain potential.
a. true b. false