Question 1

Which of the following would tend to encourage a faster rate of long-run economic growth?

Accepted Answer

A)  An increase in the supply of innovative activities. 
B)  A decrease in the demand for innovative activities. 
C)  A decline in basic research. 
D)  A reduction in the number of engineers and scientists immigrating to the United States from other countries. 
A)  An increase in the supply of innovative activities. 
B)  A decrease in the demand for innovative activities. 
C)  A decline in basic research. 
D)  A reduction in the number of engineers and scientists immigrating to the United States from other countries.

Question 2

Which of the following is the function of a patent?

Accepted Answer

A)  A patent encourages more rapid technological diffusion by requiring the inventor to license the invention to anyone at no charge for three years. 
B)  A patent allows the inventor to prevent others from making or selling an invention for a period of years to encourage innovation. 
C)  A patent produces revenue for the federal government by giving the government a percentage of the licensing fees from new inventions. 
D)  A patent prevents the inventor from licensing the invention to anyone for a period of 20 years to encourage the inventor to more thoroughly develop the idea. 
A)  A patent encourages more rapid technological diffusion by requiring the inventor to license the invention to anyone at no charge for three years. 
B)  A patent allows the inventor to prevent others from making or selling an invention for a period of years to encourage innovation. 
C)  A patent produces revenue for the federal government by giving the government a percentage of the licensing fees from new inventions. 
D)  A patent prevents the inventor from licensing the invention to anyone for a period of 20 years to encourage the inventor to more thoroughly develop the idea.

Which of the following would tend to encourage a faster rate of long-run economic growth?

Which of the following is the function of a patent?

Introduction

Demand and Supply: The Basics of the Market Economy

Market Equilibrium and Shifts

How Businesses Work

Competition and Market Power

Government and the Economy

The First Step Into Macroeconomics

Inflation

Growth

Business Cycles, unemployment and Inflation

Fiscal Policy

Monetary Policy

The Financial Markets

International Trade

Economics of the Labor Market

The Distribution of Income

Economics of Retirement and Healthcare

Economics of Energy, the Environment, and Global Climate Change Glossary

Filters

Exam 15: Technological Change

Which of the following would tend to encourage a faster rate of long-run economic growth?

Which of the following is the function of a patent?

Introduction

Demand and Supply: The Basics of the Market Economy

Market Equilibrium and Shifts

How Businesses Work

Competition and Market Power

Government and the Economy

The First Step Into Macroeconomics

Inflation

Growth

Business Cycles, unemployment and Inflation

Fiscal Policy

Monetary Policy

The Financial Markets

International Trade

Economics of the Labor Market

The Distribution of Income

Economics of Retirement and Healthcare

Economics of Energy, the Environment, and Global Climate Change Glossary

Filters