Price ceiling is a legally established ______ price.
a. minimum
b. maximum
c. equilibrium
d. indeterminate
b. maximum
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Which barrier to entry is an exclusive right granted to the author or composer of a literary, musical, dramatic or artistic work?
A) patent B) copyright C) public franchise D) government license E) natural barrier
By itself, if a U.S. firm builds a new factory overseas, U.S. net capital outflow rises
a. True b. False Indicate whether the statement is true or false
An illiquid asset is one that is _______ but _______.
A. worth a lot in the future; can be sold today at its expected future price B. worth a lot in the future; can only be sold today at a low price C. worth a lot right now; not worth that much in the future, when it can be sold. D. worth a lot right now; cannot be sold until the future, when its value will be higher
Protection of new products from global competition is known as
A. a quota. B. dumping. C. the infant-industry argument. D. protection of domestic jobs.