Private businesses tend to spend too little on research and development, because ________
A) investments to increase the capital stock are a better way to boost productivity
B) governments tend to spend too much on research and development
C) patent laws make it difficult to reap the benefits of such spending
D) technology is often nonexcludable
D
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In describing the progress of the typical person in an economy, measuring the median income always does a better job than measuring the mean income
Indicate whether the statement is true or false
The dominance of banks in Germany comes at the expense of __________ markets there
A) securities B) government bond C) consumer borrowing D) foreign exchange
A market is said to be in disequilibrium if
A) it exhibits either a surplus or a shortage. B) the number of units that individuals are willing to buy exceeds the number of units they can afford. C) it is a market for an inferior good. D) none of the above
The difference between the official and correct measures of the deficit will be greater,
A) the lower is government spending. B) the lower is the level of debt, B. C) the higher is inflation. D) none of the above