Regarding new inventions, which of the following statements is not true?
a. a new invention typically has little competition
b. this effective monopoly on the market earns the inventor abundant profit
c. that profit gets the attention of other potential inventors, who create competing products
d. reduced to zero economic profits, the inventor goes out of business
d
Economics
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_____ transfer the necessary information within a firm and bind the recipients to take certain actions
a. Contracts b. Decision-makers c. Owners of information d. Orders
Economics
Since 1929, total government taxes as a percentage of GDP:
a. climbed from 10 percent to about 30 percent. b. remained close to 30 percent. c. climbed from 30 percent to about 50 percent. d. climbed from 15 percent to about 50 percent.
Economics