In 2013, the U.S. spending on research and development was:
a. the lowest among developed countries
b. more than any other country
c. more than most countries, but not China
d. consistent with spending on R&D in 2012
b
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Which of the following statements best describes the best public policy solutions for international trade?
a. The best public policy solutions involve some degree of protectionism, while finding other ways for public policy to address the particular issues, eventually allowing the benefits of international trade to occur. b. The best public policy solutions typically do not involve protectionism but instead involve finding ways for public policy to address the particular issues, while limiting the benefits of international trade to occur. c. The best public policy solutions typically do not involve protectionism but instead involve finding ways for public policy to address the particular issues, while still allowing benefits of international trade to occur. d. The best public policy solutions require protectionism, in addition to finding ways for public policy to address the particular issues, while still allowing the benefits of international trade to occur.
A product priced at $5 has annual sales of 1,000 units. When price is reduced to $4, quantity increases to 1,250 units. Other things unchanged, the price elasticity of demand for the product is:
A. unitary. B. inelastic. C. elastic. D. zero.
A monopolist will always charge the highest price it can get.
Answer the following statement true (T) or false (F)
If it costs Microsoft $800 million to bring a new version of Windows to market, and if the marginal cost of producing one unit were $1, the ATC of producing 10 million units would be approximately ______.
Fill in the blank(s) with the appropriate word(s).