In the United States, a patent lasts
A) 7 years.
B) 14 years.
C) 20 years.
D) forever.
C
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Real income is redistributed from ________ in the case of ________ deflation
A) creditors to debtors, anticipated B) creditors to debtors, unanticipated C) debtors to creditors, anticipated D) debtors to creditors, unanticipated
When two goods are perfect complements, the indifference curves are
a. positively sloped. b. negatively sloped. c. straight lines. d. right angles.
What happens to standards of living over time with stagnant economic growth rates?
a. steady growth b. little change c. regulatory control d. notable decrease
Under what condition are profits maximized?
A. at the output rate where marginal cost is greater than marginal revenue B. at the point at which the difference between total revenues and total costs is negative C. at the rate of output at which marginal revenue equals marginal cost D. at the point at which the difference between price and quantity demanded is greatest