When a drug company develops a new drug it is granted a ________ making it illegal for other firms to enter the market until the ________ expires
A) franchise; franchise
B) copyright; copyright
C) government license; government license
D) patent; patent
D
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How does the unemployment rate fluctuate over the business cycle?
What will be an ideal response?
If other things are constant, the longer the average unemployed worker searches before accepting a job
A) the lower will be the measured unemployment rate. B) the higher will be the measured unemployment rate. C) the lower will be the natural unemployment rate. D) none of the above.
"Crowding out" will ____ expansionary fiscal policy because it results in ____
a. weaken; a depreciated value of the dollar b. strengthen; reduced imports c. weaken; increased interest rates d. strengthen; increased tax revenues
One explanation for the downward slope of the aggregate demand curve is that when the price level increase, which of the following will decrease?
A) Real value of assets B) Price of foreign goods C) Prices of substitute goods D) Expectations of future prices E) Government deficits