A patent gives exclusive rights to the creator for how many years?
a. 70
b. 95
c. 21
d. 25
c. 21
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In the year that a bakery buys a new $100,000 oven by borrowing at a real interest rate of 5 percent, the oven adds $22,000 to bread sales, depreciates by $8000, and requires $3000 in natural gas and maintenance
Since the MPK is ________ the user cost of capital, the bakery should ________. A) above, shut down the oven B) above, consider buying more ovens C) below, shut down the oven D) below, consider buying more ovens
Assume that workers have perfect information about changes in inflation. Which of the following statements is true in this context?
a. Wage rates will not adjust immediately to the price level on account of the fixed contracts. b. The aggregate supply curve of the economy will become perfectly elastic. c. The aggregate supply curve will shift to the right. d. Nominal wage rates will always exceed the real wage rate. e. The economy will continue to produce at the potential level of real GDP.
"Since the wind and the flowing rivers can take away industrial waste without charge, polluting is a profitable activity even when people are seriously harmed downwind or downstream, unless environmental regulators stop it." This statement is
a. false if the property rights of downwind or downstream individuals are protected. b. true if the property rights of industrialists are enforced. c. never true. d. always true.
Stagflation is characterized by a(n)
What will be an ideal response?