Invention is the discovery of a new process or idea. Innovation is
a. the continuing search for inventions.
b. copying ideas from rival firms.
c. putting an invention to work.
d. basic research.
c
You might also like to view...
People expect an inflation rate of 5 percent and the real interest rate is positive. Consequently the nominal interest rate will be
A) more than 5 percent. B) 5 percent. C) less than 5 percent. D) Without more information it is impossible to tell if the nominal interest rate will be more than, less than, or equal to 5 percent.
Which of the following portions of the national debt impose a net interest burden on the federal government?
a. treasury bonds held by government agencies b. treasury bonds held by private investors c. treasury bonds held by the Federal Reserve system d. treasury bonds held in the Social Security Trust Fund
Sony is considering a 10 percent price reduction on its LCD television sets. If the demand for sets in this price range is inelastic:
A. revenues from LCD sets will remain constant. B. revenues from LCD sets will decrease. C. the number of LCD sets sold will decrease. D. revenues from LCD sets will increase.
When the expected rate of inflation is added to the real interest rate, the result is called the:
A. preferred rate. B. nominal interest rate. C. adjustment rate. D. differential rate.