A patent is a government protection that gives
A. companies the right to produce any good they choose.
B. monopolies the right to be sole producers due to economies of scale.
C. consumers the right to sue when products are unsafe.
D. inventors exclusive rights to their product for a time.
Answer: D
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Unemployment due to the location or skill requirements of job vacancies not matching the location or skills of the unemployed is called ________ unemployment
A) turnover B) mismatch C) cyclical D) natural
Which of the following is false?
A. Keynes believed that the economy was basically unstable. B. The classical economists believed that full employment was a "rare occurrence". C. Keynes argued that the expected rate of profit was the most important factor in determining the level of investment demand in an economy. D. The classical economists used the laws of supply and demand to prove the validity of Say's Law.