State industries are notoriously poor "incubator" for the development of profit-focused, entrepreneurial persons who may leave the firm to set up their own businesses. This statement is an argument in favor of:
A. free immigration and emigration.
B. privatizing state industries.
C. central planning.
D. free trade.
B. privatizing state industries.
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A good is said to have a relatively elastic demand if the value of price elasticity is:
A) equal to 0. B) between 0 and 0.5. C) between 0.5 and 1. D) greater than 1.
Generally with bond ratings, the lower the rating, the ________ the interest rate an investor will receive and the ________ the the risk that the issuer of the bond will default
A) lower; lower B) higher; lower C) higher; higher D) lower; higher
The government of Italy will not allow any Hard Rock Cafe restaurants to open in Italy. Defenders of the efficiency of brand-name markets would argue that this has hindered restaurant market efficiency in Italy
a. True b. False Indicate whether the statement is true or false
Suppose lawyers seek legislation to limit the use of computer software that enables people to use their personal computers to self-prepare their own wills, trusts, and other legal documents. This is an example of:
A. logrolling. B. the principal-agent problem. C. rent-seeking behavior. D. limited and bundled choices.