Answer the following statements true (T) or false (F)
1) Trade secrets confer more robust protection that patents.
2) A patent request will meet the nonobviousness condition if it is not obvious to a person with ordinary skill working in the area.
3) In the absence of patent rights, society can still achieve the optimal amount of innovation.
4) Trade secrets do not need governmental approval to protect it.
5) An important difference between a patent and a trade secret is that a patent holder must disclose the workings of the patent and the trade secret owner is not required to disclose the trade secret.
1) FALSE
2) TRUE
3) FALSE
4) TRUE
5) TRUE
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The price level is held constant when moving along the planned expenditures curve
Indicate whether the statement is true or false
An indirect tax is a tax paid by consumers
A) to a state or local government. B) when they purchase goods and services. C) on unearned income (as opposed to wages and salaries). D) that is a percentage of the value of their real property.
According to aggregate demand and supply analysis, America's involvement in the Vietnam War had the effect of
A) increasing aggregate output, lowering unemployment, and raising the inflation. B) decreasing aggregate output, lowering unemployment, and lowering the inflation. C) increasing aggregate output, raising unemployment, and raising the inflation. D) decreasing aggregate output, raising unemployment, and lowering the inflation.
The reserve requirement ratio is equal to
A. legal required reserves times the deposit multiplier. B. total checkable deposits times the deposit multiplier. C. total checkable deposits times the excess reserve ratio. D. legal required reserves divided by total checkable deposits.