Because original ideas are likely to become known and used by others, without the inventor's knowledge or consent, ________
A) technology is the key driver of economic growth
B) new ideas contribute little to economic growth
C) we refer to ideas as rival
D) technology is inherently exogenous
A
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Sarah's Soothing Diapers, Inc and Orville's Odorless Diapers, Inc are duopolists, who have agreed to collude. Orville has decided that he will comply with the collusive agreement as long as Sarah cooperated in the previous period
But if Sarah cheated in the previous period, Orville will punish Sarah by cheating in the current period. Orville's strategy is referred to as a A) Nash strategy. B) tit-for-tat strategy. C) trigger strategy. D) monkey-see, monkey-do strategy.
Which of the following statements regarding the long-term equilibrium is TRUE?
A) As new firms enter a market, each existing firm increases the quantity it produces. B) Firms leave a market if they are making zero economic profit. C) Entry and exit stop when firms are making an economic profit. D) Entry and exit stop when firms make zero economic profit.
The expansionary monetary and fiscal policies of the 1960s resulted in
A) low inflation rates and low rates of unemployment. B) high inflation rates and high rates of unemployment. C) high inflation rates and low rates of unemployment. D) low inflation rates and high rates of unemployment.
What will the value of $18,000 be in 10 years if the current interest rate is 12%?
A) $5,795.52 B) $39,600.00 C) $40,579.20 D) $55,905.27