Research into new technologies
a. provides positive externalities because it creates knowledge others can use.
b. results in negative externalities because government funding for research causes less government spending in other areas.
c. is protected by patent laws, which eliminates the need for government intervention.
d. should only be funded by the corporations that will receive the profits from the research.
a
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The economy is at full employment and then aggregate demand increases. Describe what happens as an immediate result of the increase in aggregate demand. Describe how the economy adjusts back to full employment
What will be an ideal response?
Ceteris paribus, in the short run following a decrease in the rate of growth in aggregate demand, we would expect to see an increase in the rate of unemployment and a decrease in the rate of inflation
Indicate whether the statement is true or false
A public good is one that is supplied to
a. only people who pay for it b. only people who do not pay for it c. all people, regardless of whether they pay or not d. the government from private firms e. foreign governments from our federal government
If the U.S. government runs a budget deficit (G ? T), that deficit must be financed by an excess of
a. T over G. b. C over T plus G. c. investment by American businesses and individuals. d. S over I by American businesses and individuals, or by borrowing from foreigners.