Which of the following is NOT a means of acquiring product and process innovations?
A. Mass production of the existing product
B. Reverse engineering
C. Hiring employees of innovating firms
D. Independent research and development
Answer: A
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Would an economist consider clean air a scarce resource? Explain
What will be an ideal response?
The charitable organization Creating Hope International trains women in Afghanistan to become tailors. This effort reduces
A) entrepreneurship differences between advanced and developing economies. B) human capital differences between advanced and developing economies. C) physical capital differences between advanced and developing economies. D) agricultural differences between advanced and developing economies. E) manufacturing differences between advanced and developing economies.
The unregulated profit maximizing monopolist prefers to operate where demand is inelastic
Indicate whether the statement is true or false
The assumption that the velocity of money and the quantity being produced is constant is held by the:
A. Keynesian school. B. supply-side school. C. classical school. D. rational expectations school.