A patent gives a single person or firm the exclusive right to sell some good or service for a specific period of time
a. True
b. False
Indicate whether the statement is true or false
True
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The price of natural gas fell and the quantity sold also fell. Everything else being equal, it is consistent that
A. the price of oil fell. B. natural gas workers received large wage increases. C. more efficient gas drilling equipment was installed. D. consumer incomes rose. E. the supply of natural gas fell.
Refer to the scenario above. What is the nominal GDP of the economy in 2012?
A) $47,000 B) $56,000 C) $55,000 D) $49,500
Economists use GDP to determine
A) the economic performance of a country over time. B) the well-being of a country's citizens. C) the financial stability of a nation. D) the overall money supply within a nation. E) all of the above.
Economists have found evidence that differences in wages can be explained by
a. experience b. job characteristics c. physical attractiveness d. All of the above are correct.