The modern view of technological advance is that it:
A. is rooted in the independent advance of science, an element largely external to the market
system.
B. is rarely carried out by oligopolists or pure monopolists.
C. is an internal element of capitalism, occurring in responses to profit incentives.
D. necessarily destroys existing monopoly power.
Answer: C
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Government savings, , is equal to
A) T - G. B) T + G. C) T = G. D) T + G - I. E) T - G = I.
In banking-oriented systems, handling of the manager-stockholder conflict in large firms is through
A) rating agencies. B) the potential for takeovers. C) management ownership of the firm. D) bank ownership of the firm.
Which of the following is not a problem from incurring debt?
a. everyone has less current income b. it promotes overconsumption c. it can cause inflation d. private investment may be reduced e. future consumption may be reduced
Why does a patent stimulate research?
A) Patents give firms time to do research. B) Patents give firms the opportunity to recover research costs and thus serve as a profit motive. C) Without patents, firms would not research as much. D) They don't.