Monopoly rights provided by patents are awarded to
a. encourage profit making
b. guarantee competitive prices
c. encourage competition
d. the "first come, first served"
e. encourage research and development
E
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Full-employment output is also called
A) potential output. B) national output. C) natural output. D) target output.
In the Keynesian model, if interest rates fall below what people consider normal, households will respond by
A) decreasing the saving rate. B) reducing the saving rate. C) holding more money. D) holding more bonds.
A consumption function with taxes lies above a consumption function without taxes
a. True b. False Indicate whether the statement is true or false
The sale of government securities by the Fed
A) decreases the supply of money. B) increases the supply of money. C) decreases the demand for money. D) increases the demand for money.