A patent provides legal protection for an invention for
A. 20 years.
B. 9 years.
C. 100 years.
D. 5 years.
Answer: A
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Refer to Figure 14.2. Suppose workers expect inflation to rise from 1% to 3% next year. Other things equal, this would best be represented by a movement from
A) point A to point B. B) point B to point A. C) point B to point C. D) point A to point C.
The fact that movie star Tom Cruise's salary is much higher than the salary earned by a Nobel prize winning economics professor can be explained by the
a. existence of noncompeting labor markets b. elimination of noncompeting labor markets c. failure of the market to reward talent fairly d. fact that wage rates cannot reflect the influence of education in labor markets e. willingness of some people to accept a lower wage rate in order to do what they like most to do
Why is it possible that the economy will not self-correct out of a recessionary gap?
Political decision making tends to be biased toward the adoption of programs that have
What will be an ideal response?