Xerox and AT&T are examples of companies that
A. reaped little benefit from the major innovations they created.
B. earned too little profit to have money to invest in R&D.
C. earn most of their revenues from licensing the patents they own.
D. face so little competition that they see no need to innovate.
Answer: A
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To correct for negative externalities, the government
A) should allow the price system do the correction. B) can impose a tax. C) can provide a subsidy to consumers. D) should create a public good.
In the sequential labor negotiation game:
a. The first mover has an advantage b. The second mover has an advantage c. There is no advantage to either mover d. none of the above
E&S Cooling Co installs air conditioning systems in new houses for homebuilders, and replacement systems for homeowners. Sales of which systems are included in this year's GDP?
a. Sales of replacement systems b. Sales of both systems c. Sales of systems in new houses d. Neither system would be included, because they are always intermediate goods.
Imagine that a country is at point X of this production possibilities frontier and a country is at point Y.
A. The country at point X will probably grow faster than the country at point Y.
B. The country at point Y will probably grow faster than the country at point X.
C. The two countries will probably grow at about the same speed.
D. There is no way of predicting which country will grow faster.