Copyrights and patents are examples of barriers to entry
a. True
b. False
A
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The iconic American drink-maker, Coca-Cola, announced plans in 2008 to buy the dominant Chinese fruit juice company for $2.5 billion. But China just rolled out a new law to guard against business monopolies
How would this rent-seeking behavior by Coca-Cola most likely affect efficiency in the drink market? A) Profit would increase. B) Producer surplus would increase. C) Consumer surplus would decrease. D) Deadweight loss would increase.
The amount of investment demand at each interest rate falls. If the Fed holds to an unchanged interest rate target, the change in GDP is __________ if it had held to an unchanged money supply target
A) greater than B) less than C) the same as
The price of leisure
A) is the same for everyone. B) depends on the number of hours worked. C) is measured as foregone earnings. D) is immeasurable.
Many health economists believe that health-care reform will:
a. decrease demand for new, better, and more expensive medical advances. b. lower premiums for young adults c. eliminate private health insurance entirely. d. have a very limited effect on reducing government health-care expenditures.