When the Fed wants to increase the US money supply, it will order the US Mint to print more currency
a. true
b. false
Answer: b. false
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Daphne actually values her home at $250,000 but claims she values the home at $300,000. In an eminent domain situation, the government would pay Daphne ________ for her home
A) $250,000 B) $275,000 C) $300,000 D) the fair market value
The reason that patents are granted is
A) to encourage a high rate of consumption. B) to protect new techniques developed through research and development. C) to encourage free trade. D) to increase the labor force.
If the demand for hand-sewn leather shoes increases, it is highly likely the demand for:
A. leather will decrease. B. skilled sewers will increase. C. needle and thread will decrease. D. all shoe-types will also increase.
Which of the following undermines the effectiveness of a barrier to entry?
a. the existence of patents in the industry b. high fixed cost c. no access to resources d. product differentiation e. rapid technological innovation