Private companies will invest in medical research if
a. they will produce general knowledge.
b. they will produce a specific product for which they may receive a patent.
c. there is no government intervention in the market for medical products.
d. others will benefit from their discoveries.
b
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When price levels rise, the quantity of nominal money demanded will ________ and the quantity of real money demanded will ________
A) increase; stay the same B) increase; increase C) increase; decrease D) decrease; increase
Refer to Figure 15-17. An economics professor argues: "I think the course should be priced so as to achieve economic efficiency." How much profit (or loss) will the college make on the course if it charges this price?
A) -$2,592,000 B) -$1,080,000 C) $0 D) $450,000
From before the financial crisis began in September of 2007 to when the crisis was over at the end of 2009, amount of Federal Reserve assets rose, leading to
A) a huge increase in the monetary base. B) a huge expansion of the money supply. C) an economic expansion. D) a high inflation.
A firm earning economic losses should operate in the short run as long as
A) the price per unit sold is greater than the average fixed cost per unit produced. B) the price per unit sold is greater than the average variable cost per unit produced. C) marginal revenue is at least the price per unit sold. D) the price per unit sold is equal to or greater than the marginal cost of production.