Patent protection in the United States is granted for 20 years from the date the patent application was filed.
Answer the following statement true (T) or false (F)
True
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The fact that a rock star earns $5 million a year while a teacher earns $25,000 annually is most directly an example of an economy answering the ________ part of one of the two big economic questions
A) "when" B) "for whom" C) "how" D) "why"
What are the implications of the quantity theory of money for monetary policy and price stability?
What will be an ideal response?
The marginal expenditure curve for labor is based on the assumption that
A) the most productive workers are hired first. B) the wage rate is independent of the quantity of labor employed. C) the market supply curve for labor is infinitely elastic. D) all workers are paid the same wage rate. E) none of the above
For the economy as a whole,
a. income must be greater than expenditure. b. unemployment must rise when GDP rises. c. expenditure must equal income. d. consumption must be greater than investment.