Which of the following is true of trademarks?
A) If a firm is granted a trademark, then no other firms can legally produce similar products for a given period of time.
B) A successful trademark is one that allows consumers to immediately identify the source or producer of the product.
C) If a firm is granted a trademark, then no other firms can legally sell in the same geographic area for a given period of time.
D) A successful trademark is one that becomes a generic name for a product, for example, "Xerox" has become a generic term for making photocopies.
B
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In the market for crude oil, everything held constant, if rate of interest of simple bank accounts or interest-bearing investments decline, then:
a. the consumption of crude oil declines in the present period. b. the extraction of crude oil will increase today. c. the price of the crude oil in the international market falls in the present period. d. greater research and developments are conducted to locate new sites of crude oil in the present period. e. the extraction of crude oil will fall in the present period.
If aggregate demand shifts right then in the short run
a. firms will increase production. In the long run increased price expectations shift the short-run aggregate supply curve to the right. b. firms will increase production. In the long run increased price expectations shift the short-run aggregate supply curve to the left. c. firms will decrease production. In the long run increased price expectations shift the short-run aggregate supply curve to the right. d. firms will decrease production. In the long run increased price expectations shift the short-run aggregate supply curve to the left.
According to purchasing-power parity, if it took 1,100 Korean Won to buy a dollar this year, but it took 1,000 to buy it last year, then the dollar has
a. appreciated, indicating inflation was higher in the U.S. than in Korea. b. appreciated indicating inflation was lower in the U.S. than in Korea. c. depreciated indicating inflation was higher in the U.S. than in Korea. d. depreciated indicating inflation was lower in the U.S. than in Korea.
Assuming well-defined indifference curves, when marginal utility is zero, total utility is at a maximum.
Answer the following statement true (T) or false (F)