A knowledge spillover occurs when firms:
a. restrict trade of inputs with each other.
b. have wasteful expenditure.
c. mimic the successful innovations of other firms.
d. keep secrets from other firms.
Ans: c. mimic the successful innovations of other firms.
You might also like to view...
Refer to the information provided in Figure 32.2 below to answer the question(s) that follow.
Figure 32.2Refer to Figure 32.2. According to monetarists, an expansionary fiscal policy in the long run and after all the adjustments have been made
A. increases the price level above P1, but does not change equilibrium output. B. increases equilibrium output above Y1 and decreases the price level below P1. C. does not increase equilibrium output or the price level. D. increases equilibrium output above Y1, but does not change the price level.
The International Space Station is a joint project of the United States, Russia, Japan, Canada and the European Union. This suggests that _____
a. if the space station is a public good then the optimal size of the sharing group is larger than one country b. each country would have been unable to raise the money to pay for the space station on their own c. there are significant negative externalities involved that should be spread over more individuals d. Australians do not value space exploration