Basic research seeks to answer particular questions or to apply scientific discoveries to new product development
Indicate whether the statement is true or false
false
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The decision to innovate
A) depends on the marketing department's needs. B) depends on whether the firm wants to benefit its customers. C) is based on the marginal cost and the marginal revenue of innovation. D) is unnecessary in a monopolistically competitive market. E) None of the above answers is correct.
Over the past six decades, the U.S. economy has experienced a dramatic increase in the relative importance of international trade and finance
a. True b. False Indicate whether the statement is true or false
An economist has estimated that the maintenance of a public park costs $25,000 a year and that the public park generates $30,000 a year in revenue for merchants near the park. From society's point of view, the maintenance of this park is
A. inefficient because everyone in the community pays taxes to support the park, but only the merchants near the park benefit. B. potentially efficient because no one would be made worse off as a result of maintaining the park. C. potentially efficient because the value of the gains exceed the value of the costs. D. inefficient because the additional revenues generated by the park are so low.
Households acquire property through
A. inheritance only. B. savings and inheritance. C. supplying labor in the labor market. D. savings only.