Patents:
A. reduce the positive externalities associated with new technologies.
B. eliminate the positive externalities associated with new technologies.
C. do not affect the positive externalities associated with new technologies.
D. increase the positive externalities associated with new technologies.
Answer: A
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Suppose the required reserve ratio is 3 percent, and currency and reserves total $10 million. The maximum money supply that can be supported is:
a. $13 million. b. $30 million. c. $97 million. d. $333.3 million.
Explain why government, rather than private firms, is required for efficient mosquito eradication programs.
What will be an ideal response?
When the actual reserve-deposit ratio exceeds the desired reserve-deposit ratio banks:
A. make more loans. B. do nothing because this is a profitable situation. C. send the extra reserves to the central bank. D. stop making loans.
One reason the Medicare system costs so much is
A) the amount of medical services is determined by the equilibrium of supply and demand. B) the supply of medical services does not respond to price changes. C) supply and demand analysis does not apply. D) beneficiaries are entitled to receive services for which the per-unit cost exceeds their own personal out-of-pocket payment.