The patent system gives firms greater incentive to engage in research and other activities that advance technology
a. True
b. False
Indicate whether the statement is true or false
True
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A decrease in the price level causes a ________ the IS curve and a ________ the aggregate demand curve
A) movement up along; movement up along B) shift to the right of; movement up along C) movement down along; movement down along D) shift to the left of; movement down along
A monopolist faces the following demand curve: P = 12 - .3Q with marginal costs of $3 . What is the monopolistic PRICE?
a. P = $5.50 b. P = $6.50 c. P = $7.50 d. P = $8.50 e. P = $9.50
Merit goods
a. are free goods b. are provided only by the private market c. are provided only by government d. are provided both by the private market and by government e. have zero costs although their price is greater than zero
The poverty line is an absolute standard and is based on the cost of providing an adequate diet
a. True b. False Indicate whether the statement is true or false