In the 1990s, what reduced the barriers to entry in the local telephone market?
(A) The end of a twenty-year patent on telephone technology.
(B) The deregulation of the local telephone industry.
(C) The rising popularity of cellular phones.
(D) The licensing of new, smaller phone companies.
Ans: (C) The rising popularity of cellular phones.
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A narrow bid-asked spread on a security can be expected if
A) price fluctuations are large. B) liquidity costs are high. C) transactions volume is large. D) the market is thin.
Elsa and Moshe have different ideas about how their country should invest its tax revenues. Elsa feels that some of it should be used to fund an ambitious space science program. Moshe feels the money would be better spent on improvements to roads, bridges, and airports. It is likely that Elsa is more interested in ______ than Moshe.
a. stimulating innovation b. enhancing natural resources c. boosting population growth d. reducing poverty