In the knowledge economy
A) physical property rights appear to be lacking.
B) property rights have become stronger.
C) property rights have been replaced by network externalities.
D) intellectual property rights appear to be lacking.
D
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The problem with the strategy of achieving credibility through reputation is that
A) reputations are rarely credible. B) reputations lack any commitment. C) serious costs may be incurred during the period in which reputation is established. D) rules always have a lower cost than reputations in maintaining credibility.
Social Security taxes are regressive because
A) they apply only to rich people. B) they are not applied to income beyond a certain amount. C) they are applied to welfare recipients. D) they are applied to retired people only.