When people talk about U.S. intellectual property rights, what are they talking about?
A. The existence of high-quality educational institutions such as the Ivy League schools.
B. The abstract nature of ownership in corporate organizations.
C. The human capital of the U.S. labor force.
D. Ideas and knowledge protected by patents and copyrights.
Answer: D
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For a demand curve that is horizontal, the marginal revenue curve
A) will be to the right of the demand curve and half as steep. B) will be to the left of the demand curve and half as steep. C) will be to the right of the demand curve and twice as steep. D) will be the same as the demand curve.
A multinational organization that aims to promote world economic growth through more financial stability is
A) the World Monetary Fund. B) the International Bank. C) the International Monetary Fund. D) the International Monetary Bank.
Globalization does not mean:
A) the homogenizing of markets. B) when one product or one brand is sold in many different international markets. C) the increase in trade among nations. D) the establishment of manufacturing plants in more than one nation. E) the purchase of supplies from foreign firms.
For an inferior good, a rise in price causes
a. negative income and substitution effects b. positive income and substitution effects c. a negative income effect and a positive substitution effect d. a positive income effect and a negative substitution effect e. a positive income effect, but no substitution effect