When technology spillover occurs,
a. it is the government's responsibility to own firms that are engaged in high-tech research.
b. a firm's research yields technological knowledge that can then be used by society as a whole.
c. those firms engaged in technology research should be taxed by the government.
d. firms invest in the latest production technology and the cost of that technology "spills over" to the prices consumers must pay for the product.
b
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For each of the following values of nominal GDP and real GDP, calculate the GDP price deflator
a) Nominal GDP = $600; real GDP = $800. b) Nominal GDP = $900; real GDP = $900. c) Nominal GDP = $1,200; real GDP = $1,000
During what period of time did the United States most consistently adhere to the gold standard?
A) from 1914 until 1929 B) from the eighteenth century until the nineteenth century C) from 1944 until 1980 D) from the nineteenth century until the 1930s
An example of a public policy response to a monopoly is:
A. doing nothing. B. public ownership. C. antitrust laws. D. All of these are examples.
In 2007 a company sold 35,000 drones at $150 each. In 2008 the same company sold 40,000 drones at $170 each. This information suggests that
A. The price of drones increased because the costs of production increased from 2007 to 2008. B. From 2007 to 2008, the demand curve for drones was upward-sloping because of improved technology. C. The supply of drones increased from 2007 to 2008. D. The demand for drones increased from 2007 to 2008.