Technology spillovers:
a. Are caused by patents
b. Can lead to clustering of technology firms near one another.
c. Are examples of negative externalities.
d. All of the above are true.
b
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Refer to Figure 13-4. Given the economy is at point A in year 1, what is the difference between the actual growth rate in GDP in year 2 and the potential growth rate in GDP in year 2?
A) 0.3% B) 1.1% C) 2.7% D) 3.7%
Of the four effects on interest rates from an increase in the money supply, the one that works in the opposite direction of the other three is the
A) liquidity effect. B) income effect. C) price level effect. D) expected inflation effect.
The reason we study the sequential labor negotiation game:
a. Is to show that these games usually go on for rounds and rounds b. Is to show the importance of the first mover being able to commit to an offer c. Is to show the importance of the second mover being able to commit to an offer d. Is to show the problems of prisoners dilemmas
In this graph, what is the difference between the marginal cost and the average total cost?
a. 0
b. $4.90
c. $6.00
d. $100