In which of the following situations can a firm or individual apply for a patent?
A. A firm develops a new tool that makes cutting grass much easier.
B. An author publishes a new novel.
C. Nicki Minaj, a recording artist, releases a new CD in the market.
D. All of these are activities that can be patented.
Answer: A
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A common resource is used efficiently if
A) the output is maximized. B) marginal social benefit equals marginal social cost. C) marginal private benefit equals marginal private cost. D) marginal social benefit is maximized.
The combined revenues of Walmart, ExxonMobil, and Chevron total more than the GDP of
A. Belgium. B. Denmark. C. Ireland. D. All of these nations.
Which of the following is true?
A) In the long run, corporate bonds can be expected to yield a higher real rate of return than ownership of stocks. B) The risk of stock market investments can be reduced through the holding of a diverse portfolio of unrelated stocks over long periods of time. C) Stock market investors can reduce their risk if they hold shares of specific stocks for only short periods of time. D) People who invest in the stock market are virtually certain to make money.
A decrease in the discount rate ____ both total and excess reserves and ____ the money supply.
A. increases; decreases B. decreases; increases C. decreases; decreases D. increases; increases