A trademark is a temporary, exclusive-ownership right legally granted to
A. criminals who develop an easily-recognizable modus operandi.
B. the inventor of a new product or technique.
C. the creator of a written or recorded work.
D. a business for use of a phrase, logo, or name.
Answer: D
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________ in a bank is considered a liability of that bank.
A. A checking deposit B. Required reserves C. Excess reserves D. A bank loan
In the problem of double marginalization, the resulting price is ______than if the manufacturer were to sell directly to the consumer
a. Higher b. Lower c. The same d. None of the above
Which of the following is true in the long run? a. The aggregate demand curve determines the level of potential output
b. The long-run aggregate supply curve is horizontal. c. The actual price level and the expected price level are equal. d. Cyclical unemployment is between 5 percent and 6 percent. e. The price level is determined entirely by the long-run aggregate supply curve.
If Country A has an absolute advantage over Country B in the production of every commodity:
a. mutual gains from trade between Country A and Country B would be impossible. b. Country B would be able to gain from trade but not country A. c. the joint output of the two countries could not be increased through specialization and exchange. d. mutual gains from trade would still be possible.