Technology spillovers:
a. Can be reduced by way of patents
b. Can lead to clustering of technology firms near one another.
c. Are examples of positive externalities.
d. All of the above are true.
d
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An increase in the money supply, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
As a general rule, free trade:
A. acts to equalize the supply of and demand for factors of production across countries. B. causes factor prices to converge across countries. C. increases the supply of factors that are domestically scarce. D. All of these are true.
Which of the following is considered per se illegal under the U.S. antitrust law?
a. An agreement to fix prices of commodities. b. An agreement to maintain certain technical standards. c. An agreement to operate only in specific regions. d. An agreement to follow identical production technique.
Which of the following is true?
a. Inflation and unemployment rates can both increase in the short run in response to negative supply shocks. b. Inflation and unemployment rates cannot both decrease in the short run in response to reduced aggregate demand. c. Inflation and unemployment rates can both decrease in the short run in response to positive supply shocks. d. All of the above are true.