In 1935, the U.S. Patent and Trademark Office issued Parker Brothers a trademark on the
use of the name Monopoly for a board game. Hasbro bought Parker Brothers in 1991.
Which of the following statements is true regarding the trademark on the name Monopoly for a board game?
A) The trademark expired in 1955, 20 years after the trademark was issued to Parker Brothers.
B) The original trademark expired well before Hasbro bought Parker Brothers, so they never had a trademark on Monopoly.
C) Trademarks never expire, so Hasbro continues to have a trademark on the name Monopoly.
D) The trademark expired in 2011, 20 years after Hasbro's purchase of Parker Brothers.
C
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The statement: "If everyone trades in the competitive marketplace, all mutually beneficial trades will be completed, and the resulting equilibrium allocation of resources will be economically efficient." is formally known as:
A) the law of supply and demand. B) the first theorem of supply and demand. C) the first theorem of welfare economics. D) the first theorem of efficiency in economics.
Exhibit 15-1 Production possibilities curves
In Exhibit 15-1, the production possibilities curves of wheat and corn for Nabia and Pada are presented. Suppose Nabia produces at point A on its PPC. How many units of wheat is the country able to produce?
A. 15. B. 60. C. 40. D. 20.
If the price exceeds the average variable cost but is less than the average total cost, a firm
A) should further differentiate its product. B) should stay in business for a while longer until its fixed costs expire. C) is making some profit but less than maximum profit. D) should shut down.
Contrary to Fogel and Engerman's (1974) claim, most surveyed economists believed that slavery was on the verge of extinction on the eve of the Civil War
Indicate whether the statement is true or false