Legal entitlement to scientific discoveries, inventions, innovations and intellectual property
A) results in an equal distribution of income and profits.
B) protects production on the basis of tradition, social customs and habits.
C) encourages technological advancements.
D) reduces the incentive to invest in research and development.
C) encourages technological advancements.
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If expected inflation is constant, then when the nominal interest rate falls, the real interest rate
a. falls by more than the change in the nominal interest rate. b. falls by the change in the nominal interest rate. c. rises by the change in the nominal interest rate. d. rises by more than the change in the nominal interest rate.
Our basic money supply is
A. M1. B. M2. C. M3. D. M4.
Macroeconomics:
A. studies the behavior of individual consumers, firms and markets. B. studies the behavior of the economy as a whole. C. involves the interaction between different countries in specific markets. D. studies how computer automation has changed economics.
Refer to the graph below for a purely competitive firm in the short run. The price of the firm's product is given by:
A. 0F/0C
B. 0G/0C
C. 0F/0B
D. 0E/0A