Technological advance is a three-step process involving:
A. invention, duplication, and diffusion.
B. duplication, innovation, and diversity.
C. invention, innovation, and diffusion.
D. necessity, invention, and solution.
Answer: C
Economics
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A) Call in loans. B) Borrow from the Fed. C) Sell securities. D) Borrow from other banks.
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A) are defined as the quantity sold divided by price. B) are not the same as total receipts from the sale of output. C) equal gross revenues minus all expenses of the firm. D) equal the price per unit times the total quantity sold.
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