Suppose a new way of producing fireworks is developed, using different chemicals that do not release as many hazardous heavy metals into the environment. Which type of innovation is this?
A. The creation of a new good or service
B. A productivity-enhancing innovation
C. A quality-of-life innovation
D. Basic research
Answer: C
You might also like to view...
The difference between the yield on 3-month Treasury bills and 10-year Treasury notes is largest typically during:
A) recessions B) expansions C) periods of high inflation D) when the yield curve is inverted
In a long-run equilibrium in a monopolistically competitive industry that produces information products, revenues are equal to the ________ costs of developing, producing, and selling the product
A) total B) fixed C) variable D) marginal
Suppose the supply of diamonds is relatively inelastic. A tax on diamonds would generate a
a. large DWL and the burden of a tax would fall on the buyer of diamonds. b. small DWL and the burden of a tax would fall on the buyer of diamonds. c. large DWL and the burden of a tax would fall on the seller of diamonds. d. small DWL and the burden of a tax would fall on the seller of diamonds.
Investment is important to the short run health of the economy because it
a) is the largest component of GDP b) is countercyclical, and thus stabilizing c) is highly volatile, and thus contributes largely to business cycles d) can be easily controlled by government e) is highly predictable, and thus useful for forecasting