Intellectual property rights protection is a critical issue for the pharmaceutical industry among others

Your friend steals towels from hotels. She then tells you she steals because "many people steal, so hotels already figure the cost of the stolen towels into the hotel bill of all customers." From the economic point of view, your friend's logic i

A) correct, because what's fair is fair. B) correct, because economics champions such selfish behavior. C) impeccable. D) incorrect, because it suggests that cost determines price. E) incorrect, because it suggests that ethical positions can be derived from economic facts.

The claims of creditors of a bank against the bank's assets are called:

A. Loans B. Net worth C. Liabilities D. Required reserves