A patent gives an innovating firm how many years of legal protection from competition?
a. 1 year
b. 5 years
c. 10 years
d. 20 years
e. 23 years
D
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Refer to Figure 6-10. A perfectly elastic supply curve is shown in
A) Panel A. B) Panel B. C) Panel C. D) Panel D.
Inflation is measured by an increase in:
a. homes, autos and basic resources. b. prices of all products in the economy. c. the consumer price index (CPI). d. None of the answers are correct.
One reason the Chinese buy a great deal of U.S. government debt is because:
A. owning US debt is a sign of economic prosperity for China. B. the rate of return for U.S. government bonds is higher than any other investment. C. they have dollars left over from the sale of their goods to the U.S. and want to buy something dollar denominated. D. the risk involved is lower for U.S. government bonds than for any other government bond in the world.
Real GDP per capita in the United States (as of 2010) exceeds that of France primarily because:
A. the United States had higher annual rates of growth than France from 1960 through 2010. B. the United States has a much larger population than France. C. the United States has a higher percentage of the working-age population in the labor force and because U.S. employees average about 14 percent more hours worked per year. D. European Union rules severely limit France's access to technologies developed outside the region.