Related to the Economics in Practice on p. 630: The emigration of Jewish scientists from Germany to the United States in the late 1930s and early 1940s may have increased patent rates in their fields of chemistry by
A. up to 5%.
B. 15%.
C. more than 30%.
D. over 100%.
Answer: C
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The practice of dividing packages of debts into slices, each with different risk and return characteristics, is called:
A. leveraging. B. bundling. C. pooling. D. tranching.
Which of the following contributed to the downfall of the Soviet Union in 1991?
A) government dissatisfaction with high living standards and political freedom B) an inability to produce low-cost consumer goods that households wanted C) an overabundance of high-quality goods and services D) the lack of a strong dictator who could coordinate economic activities
Adhira buys chocolates and almonds. She has 3 bars of chocolates and 4 bags of almonds. The marginal utility of the third chocolate bar is 18 units of utility and the marginal utility from the fourth bag of almonds is also 18. Is Adhira maximizing her
utility? A) Yes, the marginal utility from the last unit of each good is equal. B) No, she must buy 1 more chocolate bar to equate her quantities of the two goods. C) No, she must cut back to 3 bags of almonds to equate her quantities of the two goods. D) No, without information on her income and the prices of the two goods, we cannot answer the question.
In order to avoid the imposition of other types of trade barriers, foreign producers will sometimes agree to limit their exports to a country. What are these types of agreements called?
A) involuntary export restraints B) voluntary export restraints C) implicit quotas D) sanctions