Answer:
Knowledge can be defined as a public good, since it is both nonrival and nonexcludable. Everyone is entitled to increase their personal knowledge, and that also applies to businesses.
By issuing patents the government restrains the use of new technologies that temporarily belong to a person or a company. This is done to protect investment in research and development.
Subsidies are handed out by government entities to promote research on several areas including health, new technologies, environmental protection, etc.
Public education is crucial once you understand that knowledge is also public, ideas don't belong to just one person, and the government has the responsibility of educating the population. The more educated the nation's population is, the more it can develop new technologies.
Answer:
Increase in initial deposit will be $4000
Explanation:
We have given initial deposit = $1000
Required reserve ratio = 20 % = 0.2
We have to find the total increase in deposit
We know that total increase in deposit = 
So We know that total increase in deposit = 
So increase in initial deposit will be $4000
Answer:
Reserve requirement = 20% or 0.250
Simple money multiplier = 1/Reserve Ratio = 1/0.2 = 5
Note that,
Increase in money supply = Increase in total reserves * Simple money multiplier
$100 Billion = Increase in total reserves * 5
Increase in total reserves = $20 billion
This means that the federal reserve should decrease the reserve requirement by purchasing $20 billion worth of US government bonds from banks, which will lead to increase of $100 billion in money supply.
Answer:
A viable opportunity, available resources and a qualified and motivated founding team.
Explanation:
An entrepreneur can be described as an individual who creates a new business and also undergoes the different financial risks that are associated with a business operation. An entrepreneur should be creative, smart and a problem solver inorder to be able to succeed in the business world.
A successful enterpreneur must possess the ability to turn different ideas and knowledge into a viable business opportunity. The individual must also have access to an amount of money(capital) that is required to start up the business. There must also include a motivated team of workers willing to work with the individual inorder to achieve a specific goal.
Answer:
B. GDP includes non market production and is therefore a good measure of a nation's overall welfare
Explanation:
- A GDP is a total values of the goods and the services that are produced within a given country border and thus is the most common measure of measuring the country in terms of the size of the economy.
- Thus can tell the health of the country and is the monetary value of all the goods and services. The non market activities include the production of the food at homes these services don't account for the in-country GDP.
