Patents and copyrights foster the flow of:
A. Saving and investment
B. Spending and income
C. Resources and products
D. Inventions and ideas
D. Inventions and ideas
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The recent Enron and Tyco scandals are an example of
A) the free-rider problem. B) the adverse selection problem. C) the principal-agent problem. D) the "lemons problem."
Deliberate actions by a central bank to influence the exchange rate are known as
A) current account actions. B) foreign-exchange market interventions. C) dollar-value operations. D) foreign-commerce maneuvers.
Your purchase of a Gucci purse made in Italy would be classified as:
a. both c and d b. an investment good. c. a durable good. d. an import. e. an export.
Because of the free rider problem
a. side payments are necessary in order to achieve an efficient outcome b. a needed side payment can shrink until it is not large enough to compensate losers and still leave gainers better off c. efficient outcomes can never be achieved d. the Coase Theory often applies to real-world situations e. externalities are less common than they would otherwise be