Technology spillover occurs when
a. a firm passes the high costs of technical research on to society through higher prices.
b. a firm's research yields technical knowledge that is used by society as a whole.
c. the government subsidizes firms engaged in high-tech research.
d. copyright laws prohibit firms from profiting from the research of others.
b
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Refer to Figure 2-2. At Point A in the production possibilities graph shown above, the economy:
A. is not using its resources efficiently. B. is using its resources efficiently while producing clothing but no food. C. is using its resources efficiently while producing food but no clothing. D. is using its resources efficiently to produce both food and clothing.
The major wave of defaults on home mortgages in 2007 destabilized:
A. Only the banks that directly made the mortgage loans B. Only the mortgage brokers; not the commercial banks C. Many banks including those that made the loans indirectly D. Mostly large banks, but not too many small ones