Related to the Economics in Practice on page 274: According to the Economics in Practice, in industries such as electronics and computers, the patent policies of a country ________ when a company in that industry looks at different countries in which to locate its activities.
A. do not seem to make much difference
B. are the only deciding factor
C. must be among the most protective in the word
D. are the primary deciding factor
Answer: A
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Relative to the United States, the European Union antitrust law focuses more on all of the following except which one?
A) ethics B) furthering the social interest C) the leveling of the competitive playing field D) fairness
GDP includes:
a. the negative attributes from erosion and deforested landscape. b. all quality improvements resulting from higher quality goods replacing inferior goods. c. the cleaning-up expenses associated with pollution. d. the value of leisure time. e. the illegal activities related to the underground economy.
No tax can lead the economy to higher levels of efficiency
a. True b. False Indicate whether the statement is true or false
Implicit costs can be defined as
A) accounting profit minus explicit cost. B) the non-monetary opportunity cost of using the firm's own resources. C) the deferred cost of production. D) total cost minus fixed costs.