A right granted by government to a creator of a written or recorded work to be the exclusive seller of that work for a limited period of time is called a
A. patent.
B. copyright.
C. tangible asset.
D. trademark.
Answer: B
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If an industry has a Herfindahl index of 10,000, then
A. the industry is a single firm. B. it is perfectly competitive. C. it is considered a duopoly. D. it is considered an oligopoly.
If Nate takes out a $5,000 loan for one year at 10 percent annual interest, the principal is:
A. $5,000. B. $5,500. C. $500. D. $1000.
Price elasticity of demand shows how:
a) To compute the slope of the demand curve. b) Price responds to demand changes. c) Quantity demanded responds to price changes. d) Quantity demanded responds to changes in the price of other goods.
Refer to the information provided in Table 23.4 below to answer the question(s) that follow.
Table 23.4
Refer to Table 23.4. Assuming society's MPC is constant, at an aggregate income of $1,000 aggregate saving would be
A. $50. B. $150. C. $225. D. $425.