A copyright
a. is required to sell printed material
b. grants exclusive rights over the protected material for at least seventy years
c. is granted only to best original works of art, literature, and music
d. grants the right to copy certain material such as printed material
e. grants communal rights over the protected material for at least seventy years
B
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In the above figure, if D2 is the original demand curve and consumers come to expect that the price of the good will rise in the future, which price and quantity might result?
A) point a, with price P2 and quantity Q2 B) point b, with price P1 and quantity Q1 C) point c, with price P3 and quantity Q3 D) point d, with price P1 and quantity Q3
Municipal bonds have default risk, yet their interest rates are lower than the rates on default-free Treasury bonds. This suggests that
A) the benefit from the tax-exempt status of municipal bonds is less than their default risk. B) the benefit from the tax-exempt status of municipal bonds equals their default risk. C) the benefit from the tax-exempt status of municipal bonds exceeds their default risk. D) Treasury bonds are not default-free.
Duesenberry's relative income hypothesis is based on the belief that consumption spending
a. depends on current income b. is rooted in status c. is based on transitory income d. depends on permanent income e. is based on absolute income
Economists consider environmental pollution to be a(n)
a. externality. b. pure public good. c. allocatively efficient outcome. d. public interest outcome.