Which of the industries listed below relies the most on patent protection to recoup its investments on research and development?

If the bidders at a first-price auction have true values of $78, $72, $66, and $65, the item will sell for

a. Just above $78 b. just over $72 c. $78 d. $72

Suppose that in 2011 nominal GDP increased and real GDP decreased relative to the year 2010 . It can be concluded that:

a. the economy experienced inflation and the total production of goods and services increased. b. the economy experienced deflation and the total production of goods and services increased. c. the economy experienced inflation and the total production of goods and services decreased. d. the economy experienced deflation and the total production of goods and services decreased.