Patents encourage inventions because without a patent
A) other firms could enter the inventor's market by producing the same product.
B) nobody would demand the inventor's product.
C) the inventor would receive no tax breaks.
D) all markets would be public franchises.
A
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Which of the following are ways to ration goods and services?
A) price B) physical force C) political power D) All of the above are correct.
Suppose government purchases increase by $100 million in an economy, which leads to total output increasing by $500 million. The size of the multiplier is _____
a. $400 b. 5 c. $500 d. 0.5 e. 50
The most preferred solution for reducing cyclical unemployment is to: a. minimize recessions
b. provide unemployment benefits. c. provide food stamps. d. implement zoning laws.
Some economists believe that poverty can be good for the economy since
A. the desire to avoid poverty provides a powerful incentive to "work hard and play by the rules." B. countries with high rates of economic growth since the 1980s tend to have less income inequality. C. poverty discourages child-bearing, leaving women with more time to work. D. poverty seems to encourage gambling.