A patent protects an inventor's creation from being copied or stolen for a period of
A. 100 years.
B. 14 years.
C. 20 years.
D. 30 years.
Answer: C
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Suppose a lottery ticket costs $1 and the probability that a holder will win nothing is 99%. What must the jackpot be for this to be a fair bet?
a. 10 b. 100 c. 1,000 d. 10,000
Which of the following is a weakness of most government agencies?
a. A lack of market pressure to improve service b. An organizational structure that is too flexible c. An inconsistent source of funding d. An unclear mission and vision
All of the following are keys to economic development EXCEPT
A. minimizing "creative destruction." B. open economies. C. establishment of a system of property rights. D. an educated workforce.
Moving upward along a downward sloping straight-line demand curve, as the price of the product goes up
A. the price elasticity of demand goes from negative to positive. B. the price elasticity of demand goes from being inelastic to being elastic. C. the price elasticity of demand goes from being elastic to being inelastic. D. the price elasticity of demand does not change.