Governments grant patents to encourage
A) low prices. B) firms to form public enterprises.
C) research and development on new products. D) competition.
C
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Gilda's Art Gallery pays a commission to her sales people when they sell a painting. This practice is known as
A) the principal-agent problem. B) incentive pay. C) minimizing implicit costs. D) minimizing explicit costs.
When Pierre in Paris, France buys stock in Disney, Inc., he is contributing to:
A. capital outflow from the U.S. B. capital inflow to the U.S. C. domestic investment in the U.S. D. private savings in the U.S.
Eurodollars are:
A. euro-denominated deposits in U.S. Banks. B. dollars that are specially printed for use abroad to minimize counterfeiting. C. the currency of the European Economic Union. D. dollar-denominated deposits in banks outside the United States.
If your tuition is $2,000 this semester, your books cost $400, you can only work 10 rather than 40 hours per week during the 15 weeks you are taking classes and you make $12 per hour, and your room and board is $4,000 this semester (same as if not attending college), then your opportunity cost of attending college this semester is
A. $2,400. B. $2,760. C. $7,800. D. $11,800.