Data on wages, education, and many other characteristics of the population that are available to anyone who wants to use it are called:
A) private-use data.
B) public-use data.
C) primary data.
D) secondary data.
B
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If an Albanian company hires a U.S.-based law firm, it is
A) insourcing, from a U.S.-perspective. B) using domestic outsourcing. C) changing into a multinational enterprise. D) vertically integrating.
Patents have been defended by some on the grounds that they stimulate inventive activity. Others have argued for changes in current patent laws because:
a. resources are misallocated by the grant of a patent monopoly b. patents may not be necessary to encourage inventive activity c. the current patent monopoly period (17 years) is too short to encourage any inventive activity. d. a and b only e. all of the above
The employees at Hasket Electronics, Inc all received a significant raise. Afterward, the amount of food bought from the company’s vending machines decreased. Judging from this information, vending machine food would be considered a(n) ______.
a. inferior good b. superior good c. normal good d. abnormal good
Figure 10-5
In Figure 10-5, which graph best illustrates the situation of an economy reacting to an inflationary gap through an increase in wage levels?
a.
(1)
b.
(2)
c.
(3)
d.
(4)