Which of the following best fits the definition of basic research?
A. Research into ultra-capacitors that store electrical energy for use in hybrid vehicles
B. Research into mosquito physiology to find vulnerabilities to be exploited by future pesticides
C. Research into a process that converts radioactive fly ash from coal-burning power plants into bricks
D. A study of parallel universes
Answer: D
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The demand curve can be derived from indifference curves by varying the price of the commodity in question.
Answer the following statement true (T) or false (F)
To calculate the CPI, the Bureau of Labor Statistics uses
a. the prices of all goods and services produced domestically. b. the prices of all final goods and services. c. the prices of all consumer goods. d. the prices of some consumer goods.
Which of the following would transfer wealth from old to young?
a. Increases in the budget deficit. b. Decreased building of highways and bridges. c. More generous education subsidies. d. Indexation of Social Security benefits to inflation.
Summarize how the law of supply explains the effects of price on the quantity supplied
What will be an ideal response?