According to the text, in the absence of uncertainty, no one can obtain a profit from the exclusive ownership of a scarce resource, such as a patent or a franchise, because
A) demand curves will be perfectly elastic.
B) marginal cost will equal marginal revenue.
C) profit requires active production rather than static ownership.
D) the cost of retaining ownership will rise to eliminate any profit.
E) the tax on capital gains will eliminate any profit.
D
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If the Fed sells securities to commercial banks, there is no money multiplier effect
Indicate whether the statement is true or false
An increase in a country's net commodity terms of trade will
A) not always guarantee positive changes in the country's economy. B) always increase the country's economic welfare. C) always increase the country's real income. D) never increase the country's quantity of exports. E) always increase the country's production of its import competing good.
A monopoly's goal using price discrimination is to increase
A) total revenue. B) marginal revenue. C) total profit. D) the per unit profit.
Nearly half of federal government research and development spending takes place in the
a. National Science Foundation. b. National Aeronautics and Space Administration (NASA). c. Department of Defense. d. Federal Office of Technology Policy.