Patents and copyrights
a. are illegal in the United States
b. reduce barriers to entry in markets
c. protect small firms from large firms
d. lead to increased output and decreased prices
e. provide incentives for firms to engage in research and development
E
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Economic benefits to nations in a currency union will be larger whenever:
A) the volume of transactions between the nations is larger and there is a greater degree of economic integration. B) the volume of transactions is smaller but there is a greater degree of economic integration. C) trade and financial flows between the nations are erratic. D) financial integration is lower but cultural integration is higher.
Suppose the required reserve ratio is 0.2 and the Fed buys $100,000 in government securities from Big Bank. The commercial banking system creates _____ as a result of this initial injection by the Fed
a. $1,000,000 b. $500,000 c. $100,000 d. $80,000 e. $200,000