Innovation tends to be an extremely competitive activity that allows few opportunities for firms to share information with one another
a. True
b. False
Indicate whether the statement is true or false
False
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If the absolute value of the price elasticity of demand for gasoline is 0.5, then a 10 percent increase in the price of gasoline leads to a 0.5 percent decrease in the quantity demanded
Indicate whether the statement is true or false
An unexpected fall in New Home Sales should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Bank regulation exists because public authorities are convinced that
A. the balance between public interest and safety does not affect profitability, and should be removed from the hands of managers. B. the balance between bank profitability and public interest cannot be handled with legislation, but can be handled with regulation. C. the balance between bank profitability and safety cannot be left to profit-maximizing managers. D. the balance between bank safety and public interest can best be obtained by reliance on the market.
Technology spillover occurs when
a. a firm passes the high costs of technical research on to society through higher prices. b. a firm's research yields technical knowledge that is used by society as a whole. c. the government subsidizes firms engaged in high-tech research. d. copyright laws prohibit firms from profiting from the research of others.