Patents, which confer market power, are intended to:
A. enable patent holders to charge lower prices for new and innovative products.
B. maintain the dominance of U.S. firms.
C. protect consumers from imitations or knock-offs.
D. encourage innovation by helping firms recoup the costs of research and development.
Answer: D
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Which of the following statements is the MOST accurate? In general
A) the monetary approach to the exchange rate is a long run theory. B) the monetary approach to the exchange rate is a short run theory. C) the monetary approach to the exchange rate is both a short and long run theory. D) the monetary approach to the exchange rate neither long run nor short run theory. E) the monetary approach to the exchange rate is considered less practical than the law of one price.
Father says, "Earn a B-average on your next report card and I'll help you buy a car." An economist would say that this parent is providing his child a(n)
A) study disincentive. B) reason to slack off and not worry about her grades. C) bribe. D) incentive.
Corrective taxes enhance efficiency, but the cost to administer them exceeds the revenue they raise for the government
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3. B. -1.5. C. -3. D. -30.