Which of the following is issued to an investor to provide protection from having the invention copied or stolen for 20 years?
A) a license
B) a natural monopoly
C) a patent
D) a certificate of convenience
Answer: C
You might also like to view...
Roughly what is the required reserve ratio within the U.S. banking system?
A) Less than 10 percent. B) 15% C) 25% D) 50% E) 90%
If potential output equals $8 billion and actual output equals $9 billion, then this economy has a(n):
A. trade deficit. B. recessionary gap. C. expansionary gap. D. budget deficit.
In general, pollution exists in situations in which
A) people are selfish. B) people refuse to take social responsibility seriously. C) there are poorly defined private property rights. D) there exists public property.
In a binding situation, a positive cost shock will cause ________ in output and ________ in the price level.
A. no change; no change B. a decrease; no change C. no change; an increase D. a decrease; an increase