A license that gives the inventor of a new product the exclusive right to sell it for a certain period of time:
a. start-up costs
b. merger
c. patent
d. monopoly
e. deregulation
Ans: c. patent
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Which of the following is a prerequisite for sustainable economic growth?
A) Private foreign investment B) A literate populace C) Aid provided by international agencies D) An easy monetary policy E) An abundance of natural resources
If the price of inputs rises and consumer expectations about future economic activity worsens:
a. Aggregate demand rises, but aggregate supply does not change. b. Aggregate demand falls, and aggregate supply rises. c. Aggregate demand and aggregate supply rise. d. Aggregate demand and aggregate supply fall. e. None of the above.
In addition to other factors, the increased use of technology and the reduced costs of information transfer from local office to corporate headquarters have
A. reduced the need for middle managers and increased the scope of local decision-making authority. B. only increased the costs of decentralization. C. shown that technology has little impact on the centralization issue. D. significantly increased the need for centralized decision making.
If the exchange rate changes from 1 euro per U.S. dollar to 1.2 euros per U.S. dollar, the Euro has:?
What will be an ideal response?