Basic research:
a. usually has a larger immediate payoff than applied research
b. is more practical than applied research.
c. is the search for general knowledge without a specific product or procedure in mind.
d. is research done by a firm to market a good.
e. is research done by a firm during the production of a good.
c
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When the inflation rate is zero, the
A) real interest rate is greater than the nominal interest rate. B) real interest rate is less than the nominal interest rate. C) nominal interest rate is zero. D) real interest rate equals the nominal interest rate.
When raising taxes, the price effect tells us that the:
A. higher tax rate causes fewer units to be sold. B. government gets more revenue per units sold. C. government gets less revenue per unit sold. D. higher tax rate causes more units to be supplied.
An example of income received but not earned is
A) government transfer payments. B) undistributed profits. C) compensation of employees. D) rental income. E) a and c
Keynesians believe that Select one
a. aggregate demand changes tend to induce aggregate supply changes, offsetting any effect from changes in government expenditures. b. money wage rate adjustments will quickly eliminate unemployment. c. the economy will normally operate at full employment. d. change in business confidence can affect the amount of investment in the economy.