All economic transactions involve only buyers and sellers; no third parties are involved.
Answer the following statement true (T) or false (F)
False
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Patents are a source of:
A) legal market power. B) natural market power. C) regulated market power. D) firm-biased market power.
If the quantity supplied stays the same no matter what the price is, then supply is
A) perfectly inelastic. B) perfectly elastic. C) unit elastic. D) undefined.
A technology spillover is a type of negative externality
a. True b. False Indicate whether the statement is true or false
Which of the following statements is correct?
A. Business cycles are caused by unanticipated inflation. B. Business cycles are caused by seasonal unemployment changes. C. The depth and the length of all business cycles are identical. D. The depth and the length of all business cycles are different.