A patent
a. is given only to government owned companies.
b. is not a legal impediment to entry.
c. is a privilege granted by a state to an inventor over his invention.
d. does not give the holder a monopoly during the period it is in effect.
c
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Export-led growth policy involves:
A. favoring industries that export goods over those that only produce domestically consumed goods through high tariffs. B. investing heavily in industry through tax breaks and export subsidies with the aim of selling goods around the world. C. encouraging private investment in industries that currently export goods, rather than those expanding domestically. D. discouraging imports with high tariffs.
Managerial reputation is an ________ incentive that helps to mitigate the ________ principal-agent problem.
A. internal; manager-consumer B. internal; manager-worker C. external; owner-manager D. external; owner-consumer