Which of the following is NOT correct about patents?
A) Patents encourage invention of new products.
B) Patents stimulate innovation.
C) A patent is a barrier to entry.
D) Patents enable a firm to be a permanent monopoly.
E) Patents are granted to the inventor of a product or service.
D
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In a simple Keynesian model, an increase in income leads to an increase in
A) savings. B) investment. C) the price level. D) the money supply.
If the firm facing the demand curve P = 10 - Q still has zero marginal costs and is now a perfect price discriminator instead of a single price monopolist, what will profits be if fixed costs are 12? 
A. 10 B. 13 C. 38 D. 12
Which of the following would be subtracted from the GDP to determine the GNP?
a. the profits a Chinese company earns in China b. the profits a U.S. company earns in the United States c. the profits a U.S. company earns in China d. the profits a Chinese company earns in the United States
When analyzing a problem, if an economist is attempting to understand what caused something to happen without considering whether or not the action was fair or just, the economist is thinking
A. positively. B. normatively. C. justifiably. D. negatively.