Which of the following is a drawback of government investment in R&D?
a. Close government scrutiny of R&D projects
b. Lack of tax reductions for R&D expenses
c. Unclear assignment of patent rights
d. Additional costs of government free riders
a. Close government scrutiny of R&D projects
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Positive analysis:
A. is the best way to analyze a policy. B. leads to the best solutions. C. is the only way to analyze a policy. D. examines if the policy actually accomplished its goals.
Which of the following is associated with peaks in the business cycle?
A. relatively high levels of unemployment B. recessions C. relatively low levels of unemployment D. depressions
Which statement is true?
A. On the production possibilities frontier there is zero unemployment. B. On the production possibilities frontier 95 percent of the labor force is employed. C. To get out of a recession, we must produce at some point beyond our production possibilities frontier. D. To have economic growth, we must push the production possibilities frontier inward.
The monopolist's input demand curve is the
A. marginal physical product curve. B. marginal factor cost. C. marginal revenue curve. D. marginal revenue product curve.