A British inventor sells a patent to a U.S. corporation for $25,000. If the financial account remains unchanged, the result is ________.

A. always desirable
B. undesirable if the economy is below full employment
C. always undesirable
D. undesirable if the economy is above full employment

Answer: C

Economics

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In the short run, the profit-maximizing firm will ______

A. break even if marginal revenue equals marginal cost B. make an economic profit if marginal cost is less than average total cost C. incur an economic loss if average fixed cost exceeds marginal revenue D. incur an economic loss if average total cost exceeds marginal revenue

Economics

The total welfare associated with a market that includes a government sales tax equals

A) consumer surplus plus producer surplus. B) consumer surplus plus producer surplus minus government tax revenue. C) consumer surplus plus producer surplus plus government tax revenue. D) the government tax revenue.

Economics