A patent grants
A) a guarantee of quality to consumers.
B) the right to practice a profession.
C) an exclusive right to an inventor of a product.
D) control over a unique source or supply of raw materials.
C
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In the context of growth, the goal of stabilization policy once per capita output is equal to potential per capita output is to
A) insure that the percentage change in per capita output and potential per capita output over time are equal. B) raise the growth rate of potential per capita output above that of per capita output. C) raise the growth rate of per capita output above that of potential per capita output. D) None of the above is correct.
If the multiplier is 6 and if there is no crowding-out effect, then a $60 billion increase in government expenditures causes aggregate demand to
a. increase by $250 billion. b. increase by $333 billion. c. increase by $360 billion. d. None of the above are correct.
Other things being equal, the larger the expected future dividends to be received from stock ownership, the higher the current stock price.
Answer the following statement true (T) or false (F)
In the short run, fixed costs for a profitable firm are:
A. Zero B. Negative C. Important determinants of the output level D. Irrelevant in determining the optimal level of output