According to the doctrine of liberalism, principles of justice are the result of
a. fair agreement and bargain.
b. command-and-control policies.
c. domination of the powerful by the weak.
d. workers owning the factors of production.
a
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Elimination of riskless profit opportunities in the futures market is
A) hedging. B) arbitrage. C) speculation. D) underwriting.
In which of the following market structures with 2 identical firms do both firms produce more than the Cournot outcome?
A) Stackelberg Oligopoly B) Cartel C) Perfect Competition D) None of the above.
A copyright gives an inventor the exclusive right to make, sell, or use an invention for a limited time
a. True b. False Indicate whether the statement is true or false
A downfall of the infant-industry argument is that
a. most industries need protection when they are mature, not when they are first established. b. the amount of the tariff is unlikely to have much impact on the success of an infant industry. c. once a tariff is granted, political pressure will likely force withdrawal of the tariff before the industry matures. d. once established, a tariff is politically difficult to remove.