The successful introduction and adoption of a new product or process is called
a. invention.
b. innovation.
c. economies of scale.
d. economic growth.
B
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What kind of information is conveyed in a time-series graph?
What will be an ideal response?
In the United States, who determines the combination of bond and money creation that finances the federal budget deficit?
A) the federal government itself B) the Federal Reserve C) the private banking system D) private bond- and money-holders
U.S. public policy discourages saving because
a. other things the same, taxes increase the return from savings. b. means tested programs such as Medicaid provide lower benefits to those who did not save. c. none of parents' bequest to their children is taxed. d. some forms of capital income are taxed twice.
Briefly explain at least three reasons why private negotiations cannot eliminate inefficiencies related to pollution control.
What will be an ideal response?