Firms are more likely to devote resources to research and development when
A) the country is in recession.
B) they expect to earn rewards from successful research and development.
C) it is easy to copy new techniques of other firms.
D) the country has been experiencing slow economic growth in order to spur economic growth.
B
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Which of the following might explain the evidence of an endowment effect in behavioral economics?
A) government regulation B) knowledge and experience C) the federal tax code D) class envy
In the aftermath of the human devastation and misery of the Great Depression, many people—including many economists—became more aware of
a. the need for independence in the market-oriented economic system. b. the need to replace the market-oriented economic system. c. vulnerabilities within the market-oriented economic system. d. the strengths of the market-oriented economic system.
The practice of data mining is consistent with the assumptions made in econometric analysis.
Answer the following statement true (T) or false (F)
If a positive permanent supply shock were to occur, the resulting equilibrium would be a:
A. higher level of output at lower prices. B. lower level of output and prices. C. higher level of output and prices. D. lower level of output at higher prices.