The story in the textbook about helium, hydrogen, and the German zeppelin program is meant to illustrate the importance of
a. patents
b. potential entry
c. acquisition of competitors
d. exclusive access to resources
e. oligopoly
D
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From the point of view of a particular country, capital outflows are:
A. purchases of domestic assets by foreigners. B. purchases of foreign goods or services by domestic households or firms. C. purchases of domestic goods or services by foreigners. D. purchases of foreign assets by domestic households or firms.
Are sellers who practice arbitrage taking advantage of buyers?
What will be an ideal response?
If the U.S. imposed an import quota on furniture, U.S. net exports of furniture
a. and net exports of other U.S. goods and services would rise. b. would rise but net exports of other goods and services would fall. c. would fall but net exports of other goods and services would rise. d. and net exports of other U.S. goods and services would fall.
Managers in oligopoly firms must
A) eliminate any barriers to entry if they hope to make short-run profits. B) advertise heavily in order to differentiate their product. C) anticipate the reaction of rival firms. D) establish many varieties of their products to cover the spectrum of consumer tastes.