Give an example of an industry that would seek intellectual property rights protection because its product incorporates innovation and research
What will be an ideal response?
Pharmaceuticals, computer hardware, telecommunications equipment, other high technology products
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Monopolists are price takers
a. True b. False Indicate whether the statement is true or false
If two firms use a tit-for-tat scheme to maintain cartel pricing, and one firm chooses a low price in the current time period, then:
A. that firm will also choose a low price in the next time period. B. that firm will also choose a high price in the next time period. C. the other firm will choose a low price in the next time period. D. the other firm will choose a high price in the next time period.
Market signals
A. are best ignored by investors. B. are market noise that confuses buyers and sellers. C. always lead to economic losses. D. are ways of conveying information.
A government budget surplus from reduced government spending (no change in net taxes) will ________ the level of investment in the economy and ________ the level of total saving (private plus public) in the economy
A) increase; decrease B) increase; increase C) decrease; increase D) decrease; decrease