Preview Quiz Chapter 13__ ECON-2302-010

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11/10/22, 2:21 PM Preview Quiz Chapter 13*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504974 1/6 Preview Quiz Chapter 13* Due Nov 15 at 11:51pm Points 10 Questions 10 Available Nov 7 at 12am - Dec 4 at 11:59pm Time Limit 15 Minutes Allowed Attempts 2 Instructions Attempt History Attempt Time Score LATEST Attempt 1 2 minutes 10 out of 10 Answers will be shown after your last attempt Score for this attempt: 10 out of 10 Submitted Nov 10 at 2:21pm This attempt took 2 minutes. Read Chapter 13 and complete this quiz. Take the Quiz Again 1 / 1 pts Question 1 The term "basic research" applies specifically to research pertaining to fundamental scientific breakthroughs that may offer commercial applications in the ______________. short run near future immediate future
11/10/22, 2:21 PM Preview Quiz Chapter 13*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504974 2/6 distant future 1 / 1 pts Question 2 When it is costly or impossible to exclude someone who hasn't paid to use a particular good from using it, then that good is classified as being nonexcludable unexcludable public good free rider 1 / 1 pts Question 3 An individual who wants others to pay for public goods, but plans to use those goods for their own purposes, is often referred to as a ______________. free rider tax evader excludable nonexcludable
11/10/22, 2:21 PM Preview Quiz Chapter 13*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504974 3/6 1 / 1 pts Question 4 A highly innovative firm operating in a competitive market will usually have a lack of ability to earn reasonable profits. vast numbers of competitors catching up to its innovations. a permanent edge over its competitors. some time before competitors catch up to its innovations. 1 / 1 pts Question 5 Which of the following circumstances would encourage I'MaPharmaCo. to increase research and development activities? cost of financial capital is high cost of financial capital is low a low rate of return is likely patent term expires in 20 years 1 / 1 pts Question 6 For a negative externality, the __________________________ than the costs imposed on society as a whole.
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11/10/22, 2:21 PM Preview Quiz Chapter 13*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504974 4/6 private costs of an action are less social costs of an action are less social benefits of an action are more private benefits of an action are more 1 / 1 pts Question 7 If a firm's efforts to be technologically innovative will create a positive externality, then that firm will likely have less incentive to innovate to the extent that the whole of society desires. demand more financial capital investment to expand its R&D activities. invest significantly more in its research and development activities. have more incentive to innovate to the extent that the whole of society desires. 1 / 1 pts Question 8 Which of the following would some economists be likely to perceive as the most appropriate public policy response to a positive externality created by the development of a highly innovative new technology?
11/10/22, 2:21 PM Preview Quiz Chapter 13*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504974 5/6 not taking into account the positive externality associated with social benefit develop ways to provide a greater share of the social benefits to the innovator not taking into account the negative externality associated with social benefit have reasonable rates of return not based on a notion of unearned social benefits 1 / 1 pts Question 9 A complementary approach to supporting R&D that does not involve the government's close scrutiny of particular R&D projects is to give firms assurance that antitrust authorities challenge cooperative R&D efforts. the option to fund all R&D projects through colleges or universities. a permanent monopoly over all their inventions that never expires. a reduction in corporate taxes based on amount of R&D performed. 1 / 1 pts Question 10
11/10/22, 2:21 PM Preview Quiz Chapter 13*: ECON-2302-010 https://alamo.instructure.com/courses/1453321/quizzes/3504974 6/6 If the maintenance fees for a lighthouse are paid in full each year by charging port fees, then the lighthouse is rivalrous and excludable nonrivalrous and excludable rivalrous and nonexcludable nonrivalrous and nonexcludable Quiz Score: 10 out of 10
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