A patent provides legal protection for an invention for
A) 20 years.
B) 9 years.
C) 5 years.
D) 3 years.
A
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During a business cycle expansion, total production ________ and total employment ________
A) decreases; increases B) increases; increases C) increases; decreases D) decreases; decreases
If other factors remain unchanged, technological progress in producing good X definitely will lead to
A) an increase in the market clearing price of good X and a decrease in the equilibrium quantity of good X. B) an increase in both the market clearing price and the equilibrium quantity of good X. C) a decrease in the market clearing price of good X and an increase in the equilibrium quantity of good X. D) a decrease in both the market clearing price and the equilibrium quantity of good X.
Based on the table showing poverty for different groups, the group with the highest poverty rate is ______.
a. female households with no husband present
b. male households with no wife present
c. white, non-Hispanics
d. over 65 years old
Market power is the power to produce at the lowest cost.
Answer the following statement true (T) or false (F)