Only a few countries have followed outward-oriented development strategies for extensive periods of time. Which of the following countries is not one of those that have followed such a strategy successfully in the last decades

Patents have been defended by some on the grounds that they stimulate inventive activity. Others have argued for changes in current patent laws because:

a. resources are misallocated by the grant of a patent monopoly b. patents may not be necessary to encourage inventive activity c. the current patent monopoly period (17 years) is too short to encourage any inventive activity. d. a and b only e. all of the above

Suppose the ABC bank has excess reserves of $4,000 and outstanding checkable deposits of $80,000. If the reserve requirement is 25 percent, what is the size of the bank's actual reserves?

A. $16,000. B. $84,000. C. $24,000. D. $20,000.