The currency created by the European Monetary Union, for which notes and coins became available in 2002, is the
A) ECU.
B) euro.
C) EMU.
D) pound.
B
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The unattainable points in a production possibilities diagram are
A) the points outside the production possibilities frontier. B) the points of the horizontal and vertical intercepts. C) the points within the production possibilities frontier. D) the points along the production possibilities frontier.
Repetition of a game
A) yields the same outcome, over and over. B) can result in behavior that is different from what it would be if the game were played only once. C) is not possible. D) makes cooperative games into non-cooperative games. E) is possible only if the payoffs in the matrix change.
If a pharmaceutical company discovers a new drug and successfully patents it, patent law gives the firm
a. partial ownership of the right to sell the drug for a limited number of years. b. partial ownership of the right to sell the drug for an unlimited number of years. c. sole ownership of the right to sell the drug for a limited number of years. d. sole ownership of the right to sell the drug for an unlimited number of years.
Which of the following would be the best example of a final good or service?
A. a machine that GM purchased to build cars B. flour used to make pizza C. jet fuel used by United Airlines in one of its airliners D. a meal that a family makes for itself