Which of the following represents the fertility of research?
A) the protection given to new products by the law
B) how R&D spending translates into new ideas
C) the extent to which firms benefit from the results of their own R&D spending
D) the rate of technological progress
E) both B and C
B
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Double taxation refers to the negative feature of
a. all businesses in the United States b. sole proprietorships c. corporations d. the federal and state tax systems e. partnerships
In monopoly when supernormal profits are made:
a) The price set is greater than the average cost. b) The price is less than the marginal cost. c) The average revenue equals the marginal cost. d) Revenue equals total cost.
In ________ the United States Congress passed the Sherman Antitrust Act.
A. 1787 B. 1890 C. 1914 D. 1950
Philosophical issues regarding income redistribution deal with all of the following except
A. What is fair? B. What is and is not possible? C. What is just? D. What is the ideal distribution of income?