Research into new technologies
a. provides positive externalities because it creates knowledge others can use.
b. results in negative externalities because government funding for research causes less government spending in other areas.
c. is protected by patent laws, which eliminates the need for government intervention.
d. should only be funded by the corporations that will receive the profits from the research.
a
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When drawn against the real interest rate, the output supply curve is upward sloping because labor supply is
A) increasing in the real interest rate and labor demand is independent of the real interest rate. B) decreasing in the real interest rate and labor demand is independent of the real interest rate. C) independent of the real interest rate and labor demand is increasing in the real interest rate. D) independent of the real interest rate and labor demand is decreasing in the real interest rate.
All of the following are ways in which government can promote economic development except
a. encouraging foreign direct investment b. nationalizing industries to create efficiency c. encouraging competition d. providing an infrastructure e. promoting saving and investment