Foreign residents can benefit from U.S. research and development activity because
A) they ignore U.S. patent laws and steal the technology.
B) they can import the goods, obtaining inputs at lower cost than they would otherwise.
C) countries usually share patented ideas.
D) patents do a poor job of protecting the inventor.
B
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Andrew is unfamiliar with any of the candidates positions, so he rolls a dice to decide who to vote for in the governor's election. This is an example of naive voting
Indicate whether the statement is true or false
Which of the following is an example of microeconomic analysis?
a. impact of taxation on national income b. rate of increase in the national debt c. relationship between inflation and interest rates set by the Federal Reserve d. none of the above
Total cost includes:
A. the amount the firm spends on all inputs that go into the production of a good or service. B. one-time expenses and ongoing expenses. C. forgone opportunity costs. D. All of these are true.
Karl Marx published:
A. Das Kapital. B. General Theory of Communism. C. The Wealth of Nations. D. Capitalist Manifesto.