Which of the following is nonexcludable and rivalrous?
a. Common resource
b. Positive externality
c. Intellectual property
d. Public good
a. Common resource
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The richest American is ______.
Fill in the blank(s) with the appropriate word(s).
As a result of a new Japan-United States Free Trade Agreement (JUSFTA), the United States has shifted to free trade with Japan. Assume that the two major products are A-goods (agricultural products), which are relatively land-intensive, and M-goods (manufactured products), which are relatively skilled-labor intensive. According to the Stolper-Samuelson theorem, how will this shift affect the real returns to landowners in Japan and the real returns to landowners in the United States? Also explain the impact on the real wage of skilled labor in Japan and the real wage of skilled labor in the United States.
What will be an ideal response?
Why do corporate boards of directors sometimes link top managers' compensation to the corporations' stock prices? How might tying compensation too closely to stock prices create an incentive for corporate fraud
What will be an ideal response?
The basis for international trade is ______________ and ______________.
Fill in the blank(s) with the appropriate word(s).