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) a patent.
C) an exclusive marketing agreement.
D) a tariff.
Answer: B
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Refer to Figure 19-7. If the Indian government pegs its currency to the dollar at a value below $.02/rupee, we would say the currency is
A) parity valued. B) overvalued. C) undervalued. D) equilibrium valued.
A tariff is a tax imposed by a government on
A) imports. B) exports. C) services. D) luxury items.
Cyclical unemployment refers to
a. the portion of unemployment created by job search. b. short-run fluctuations around the natural rate of unemployment. c. changes in unemployment due to changes in the natural rate of unemployment. d. the portion of unemployment created by wages set above the equilibrium level.
Funds held in bank accounts that can be withdrawn by depositors at any time without advance notice are called:
A. demand deposits. B. flow funds. C. free funds. D. required reserves.