Which of the industries listed below relies the most on patent protection to recoup its investments on research and development?
A. the pharmaceutical industry
B. the dairy industry
C. the restaurant industry
D. the citrus industry
Answer: A
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The key concept in the new classical approach to the aggregate supply curve is
A) the impact of imperfect information on business decisions. B) the impact of changes in the price level on real balances. C) the inverse relationship between the real interest rate and desired investment spending. D) the crowding out of investment spending by government spending.
Economists favor the use of peak-load pricing since it can
A. improve the equity of the distribution of income. B. enhance the efficiency in the use of scarce resources. C. improve the profit levels of corporations. D. result in lower levels of pollution.
An example of a good that exhibits a negative network externality is:
A. telephones. B. a wireless internet connection. C. Facebook. D. All of these are examples of goods that create negative network externalities.
The Reciprocal Trade Agreement Act of 1934
a. increased the level of tariffs in the United States. b. was the first in a series of retaliatory trade acts passed by Congress. c. was the first in a series of Congressional acts reducing tariffs. d. increased the level of tariffs in the United States AND was the first in a series of retaliatory trade acts passed by Congress.