U.S. firms collectively devote the largest portion of their total R&D spending to:
A. applied research (pursuing invention).
B. basic scientific research.
C. innovation and diffusion.
D. financing startup firms.
Answer: C
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From the economist's point of view
A) wants and needs are exactly the same. B) a want is a lifesaving necessity. C) needs are objectively undefinable. D) we all have wants but only very poor people have needs.
Sensitivity analysis is restricted to natural sciences.
Answer the following statement true (T) or false (F)
Which system is the least difficult to maintain if you are running a trade deficit?
A. The free market exchange rate system B. The floating exchange rate system C. The fixed exchange rate system D. The managed float exchange rate system
Advocates of fixed rules believe that politicians focus more on reelection than on sound policy.
Answer the following statement true (T) or false (F)