Stricter laws and regulations to protect intellectual property rights
A) will help to create a more successful market system.
B) will only benefit those companies whose intellectual property rights have in the past been ignored.
C) will tend to have little impact on an economy since intellectual property is not tangible.
D) will create a stronger and more successful black market for intellectual property.
Answer: A
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Today, the share of union membership among public sector workers in the United States is
A) more than twice the share of union membership among private sector workers. B) zero. C) less than half of the share of union membership among private sector workers. D) the same as the share of union membership among private sector workers.
Suppose an American worker can make 100 chairs or catch 900 fish per day. On the other hand, a Chilean worker, can make 40 chairs or catch 400 fish per day. The United States has an absolute advantage in the production of both fish and chairs. This means that the United States:
A. should take advantage of Chile by trading with them. B. should produce only chairs and trade with Chile to get fish. C. should produce only fish and trade with Chile to get chairs. D. can produce more fish and chairs than Chile given the same amount of workers.