Which of the following policies is not aimed at stimulating technological progress?
a. subsidies to public universities.
b. tax breaks on stock gains.
c. tax breaks on research and development.
d. the granting of patents.
B
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The accounting profit of a business firm is also called:
a. royalty income. b. net income from equity. c. compensatory income. d. windfall gain. e. net operating income.
Maggie is trying to convince her friend Hannah to spend the morning at the beach instead of studying economics. Maggie’s argument is that the beach is free so will not cost Hannah anything to go. Maggie even volunteers to drive. Maggie’s argument
a. is correct; it is free to go to the beach. b. is forgetting Hannah’s opportunity cost of not being able to study. c. assumes Hannah has to eat at home or the beach so it will not cost Hannah additional money. d. is forgetting sunk costs.
In 2003, Japan restricted imports of beef from the United States because of fear of mad cow disease. This is an example of
a. an anti dumping measure. b. protecting an infant industry. c. a voluntary restraint measure. d. a technical barrier.
Assume that the central bank purchases government securities in the open market. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and GDP Price Index in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period and GDP Price Index remain the same. b. The quantity of real loanable funds per time period rises, and GDP Price Index falls. c. The quantity of real loanable funds per time period rises, and GDP Price Index rises. d. The quantity of real loanable funds per time period falls, and GDP Price Index falls. e. There is not enough information to determine what happens to these two macroeconomic variables.