The winner-take-all aspect of patent awards elicits a socially optimal research effort
Indicate whether the statement is true or false
F The race to win may bring haste and wasteful effort. But the race is also difficult to avoid.
Economics
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________ emphasize(s) that changes in prices and interest rates are the main reasons behind fluctuations in the economy
A) The real business cycle theory B) Keynesian theory C) Ricardian theory D) Monetary theories
Economics
If disposable income increases from $5 trillion to $6 trillion and, as a result, consumption expenditure increases from $7 trillion to $7.8 trillion, the MPC is
A) 1.0. B) 6 ÷ 7 = 0.86. C) 6 ÷ 7.8 = 0.77. D) 5 ÷ 7 = 0.71. E) 0.8.
Economics