Producers of computer software are plagued with the problem of “pirating,” that is, many people copy software legally purchased by others. The industry estimates that for each legal copy of a program, there are two pirated copies in use. The industry wants strict laws for the enforcement of its “intellectual property rights,” but enforcement is obviously very difficult. Economists call this problem
A. depletability.
B. externality.
C. durability.
D. nonexcludability.
Answer: D
Economics
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Induced expenditure is any expenditure that
A) is fixed for all price levels. B) is fixed for all levels of real GDP. C) changes when real GDP changes. D) changes when the interest rate changes. E) is fixed for all levels of the interest rate.
Economics
In the table above, what do net exports equal?
A) a deficit of $700 billion B) a deficit of $350 billion C) a surplus of $50 billion D) a surplus of $1,750 billion
Economics