Patents, copyrights, and trademarks
a. are examples of government-created monopolies.
b. allow their owners to reduce the costs of what they produce.
c. generate more revenue for the government than they cost consumers in the form of higher prices.
d. All of the above are correct.
a
You might also like to view...
Epsilon is a country whose unit of currency is the omega. New information leads people to expect that the omega will appreciate next year
To keep the foreign exchange value of the omega fairly steady, the Bank of Epsilon will ________ enough omegas on the foreign exchange market so that the ________ omegas will ________. A) buy; demand for; increase B) sell; supply of; increase C) buy; demand for; decrease D) buy; supply of; decrease
When the market is in long-run equilibrium in a perfectly competitive market, this implies that in the long run means
A. no firm in the industry has an incentive to exit. B. no firm outside the industry has an incentive to enter. C. no firm in the industry has an incentive to increase or decrease its output. D. all of these conditions are met in the long run equilibrium.
A market for pollution permits can efficiently allocate the right to pollute by using the forces of supply and demand
a. True b. False Indicate whether the statement is true or false
Using the AD-AS model, an increase in government expenditure...
a) has no impact on real GDP b) has no impact on real GDP, but will increase potential GDP c) increases both real and the price level d) has a full multiplier effect on real GDP, leaving the price level unchanged in the long run