In providing a legal framework, the government
A. Protects patents to encourage entrepreneurship.
B. Protects the ownership of private property to encourage the private sector.
C. Protects copyrights to encourage textbook protection.
D. All of the choices are correct.
Answer: D
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A group of producers who join forces to buy supplies and equipment and to market their output is a(n) ______
A) not-for-profit organization. B) S corporation. C) producer cooperative. D) sole proprietorship. E) cottage industry.
During the past 40 years, U.S. exports as a percent of GDP and U.S. imports as a percent of GDP
A) both rose at the same pace. B) both fell at the same pace. C) both rose, but U.S. imports as a percent of GDP rose at a faster pace. D) both rose, but U.S. exports as a percent of GDP rose at a faster pace.
Whether a dominant strategy is an optimal strategy for a firm depends upon the actions of competitors
a. True b. False Indicate whether the statement is true or false
What do sellers do if they expect the price of goods they have for sale to increase dramatically in the near future?
What will be an ideal response?