Patents do not
a. provide firms an incentive to research.
b. assign property rights to inventors.
c. protect the rights of inventors for their lifetimes.
d. internalize externalities.
c
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Fill in the blank: Demanded services are ________ services
A) instructive B) deductive C) productive D) inductive
Which of the following statements differentiates between a shortage and a surplus?
A) A shortage occurs when price is held at the equilibrium price, but a surplus occurs when price is held above the equilibrium price. B) A shortage occurs when price is held below the equilibrium price, but a surplus occurs when price is held at the equilibrium price. C) A shortage occurs when quantity supplied exceeds quantity demanded, whereas a surplus occurs when quantity demanded exceeds quantity supplied. D) A shortage occurs when quantity demanded exceeds quantity supplied, whereas a surplus occurs when quantity supplied exceeds quantity demanded.
Suppose a Treasury bond will mature in 4 years. If the bond pays a coupon of $200 per year and will make a final par value payment of $5,000 at maturity, what is its price if the relevant market interest rate is 3%?
A) $5,185.85 B) $5,304.26 C) $5,743.42 D) $6,011.82
The diamond/water paradox is only true in theory, but no real-world examples have yet to be discovered.
Answer the following statement true (T) or false (F)