How many patents has the U.S. Patent and Trademark Office issued annually in recent years?
a. 100,000
b. 150,000
c. 500,000
d. 1,000,000
b. 150,000
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Refer to the following graph. Which of the following statements is true?
a. The vertical difference between the ATC curve and the AVC curve at any output level equals AFC.
b. Total fixed cost at any output level equals the difference between ATC and AVC.
c. Whenever the MC curve lies below the ATC or AVC curves then ATC and AVC are rising.
d. The AFC curves slopes downward for as long as MC is falling but rises when MC rises.
What are menu costs?
A) the cost to a household of borrowing money when there is deflation B) the opportunity cost of dining in a restaurant instead of at home C) the costs to a firm of changing prices D) the full list of a firm's costs of production
Which of the following statements most accurately describes the role of banks in the United States between the Civil War and WWI?
a. The U.S., which had the largest economy in the world, also had the largest banks in the world. b. Banking reforms increased the ability of state banks to issue their own notes. c. Compared to state banks, national banks generally had higher reserve requirements and more restrictions on how they could handle their assets. d. Those who borrowed money at fixed interest rates gain significantly during deflationary periods.
Supply restrictions in the farming industry occur in all of the following forms except
A. Marketing orders. B. Import quotas. C. Export subsidies. D. Acreage set-asides.