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 or her invention.
D. does not give the holder a monopoly during the period it is in effect.
Answer: C
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A bank may lend an amount equal to its
A. Total assets. B. Total reserves. C. Required reserves. D. Excess reserves.
Tomato sauce and spaghetti noodles are complementary goods. A decrease in the price of tomatoes will
a. increase consumer surplus in the market for tomato sauce and decrease producer surplus in the market for spaghetti noodles. b. increase consumer surplus in the market for tomato sauce and increase producer surplus in the market for spaghetti noodles. c. decrease consumer surplus in the market for tomato sauce and increase producer surplus in the market for spaghetti noodles. d. decrease consumer surplus in the market for tomato sauce and decrease producer surplus in the market for spaghetti noodles.
The poverty rate for blacks is _____________ the poverty rate for non-Hispanic whites.
A. almost three times B. about 50% more than C. slightly higher than D. a little lower than
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 18.2 shows how much of each good Jesse and April can paint in one hour. Which of the following is TRUE?
A. April has both an absolute and comparative advantage in painting kites. B. April has both an absolute and comparative advantage in painting snowboards. C. April has neither an absolute nor comparative advantage in painting kites. D. April has neither an absolute nor a comparative advantage in painting snowboards.