A patent provides legal protection for an invention for
A) 7 years.
B) 11 years.
C) 20 years.
D) as long as the invention is valuable.
Answer: C
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The Medicare tax is applied only to the first $87,000 of income
a. True b. False
Assume that the central bank increases the reserve requirement. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the Three-Sector-Model?
a. Real GDP falls, and nominal value of the domestic currency rises. b. Real GDP rises, and nominal value of the domestic currency falls. c. Real GDP rises, and nominal value of the domestic currency rises. d. Real GDP rises, and nominal value of the domestic currency remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.