A patent is
A. the monopoly right given to a producer/company.
B. a bond issued by the government.
C. an agreement between a union and management on certain labor issues.
D. a bond issued by a state.
Answer: A
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For a seller who is a price taker, marginal revenue is always
A) less than marginal cost. B) more than marginal cost. C) the same as marginal cost. D) less than price. E) the same as price.
The inflation associated with the oil embargoes of the 1970s illustrated the _____ of the downward-sloping Phillips curve in the long run, as unemployment _____ during this period
a. validity; fell b. validity; rose c. fallacy; rose d. fallacy; fell e. fallacy; did not change
Domestic law and order, the infrastructure, and the climate of international trade are all aspects of a country's:
a. natural resources endowment. b. human resources investment. c. capital investment. d. political environment.
A nation's country-risk premium increases if:
a. Large corporations, on average, increase their debt-to-equity ratios, thereby making their operations more volatile. b. Expected inflation becomes harder to predict. c. The average maturity structure in the nation rises. d. All of the above. e. Central bank policies become more predictable.