What is a patent?
What will be an ideal response?
A right to sell a particular good for a certain period of time.
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Tom's marginal utility from a Sobe exceeds his marginal utility of crackers. Therefore, his total utility of Sobe must exceed his total utility of crackers
Indicate whether the statement is true or false
If the exchange rate (dollars per unit of foreign currency) has increased, we say there has been a(n)
a. appreciation of the foreign currency b. depreciation of the foreign currency c. revaluation of the foreign currency d. devaluation of the foreign currency e. fixing of the foreign currency
Which of the following is a capital resource?
a. a new car bought by the Jones family b. a truck used in transporting school children to a soccer practice c. a truck used in transporting steel to an automobile factory d. hamburger meat used to produce a juicy hamburger on a home grill e. a sapling used to create a forest in a new national park
In Macroland there is $1,000,000 in currency that can either be held by the public as currency or deposited into banks. Banks' desired reserve/deposit ratio is 10 percent. If the public of Macroland decides to hold more currency, increasing the proportion they hold from 50 percent to 75 percent, the money supply in Macroland will ________.
A. decrease. B. remain the same. C. either increase or decrease. D. increase.