The Chinese, like the Japanese before them, have insisted on licensing agreements and large-scale transfer of technology as the price to agreeing to accept imports. But the Chinese have taken this process one step further by ______________________________________.
Fill in the blank(s) with the appropriate word(s).
producing pirate versions of American products
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"The real interest rate is found by dividing the nominal interest rate by the CPI." Is this statement true or false?
What will be an ideal response?
When demand is inelastic and price decreases:
A) the effect of the decrease in price on total revenue dominates the effect of the increase in quantity demanded on total revenue; overall total revenue declines. B) the effect of the increase in quantity demanded on total revenue dominates the effect of the decrease in price on total revenue; overall total revenue increases. C) the effects of the decrease in price on total revenue and the corresponding increase in quantity demanded on total revenue perfectly offset one another; overall total revenue remains unchanged. D) quantity demanded and total revenue fall to zero.
See the information in Scenario 4.4. Does the demand curve for Rock and Roll Trivia slope downward?
A) Yes it does. B) No it does not. C) More information is needed to answer this question.
From the economist's point of view
A) wants and needs are exactly the same. B) a want is a lifesaving necessity. C) needs are objectively undefinable. D) we all have wants but only very poor people have needs.