Because of the Kind of Externalities That Tend to Be

question 124

Multiple Choice

Because of the kind of externalities that tend to be generated from general R&D resources bought by firms, the equilibrium price of R&D:

• A) is above the optimal level, and quantity is below the optimal level.
• B) is below the optimal level, and quantity is above the optimal level.
• C) and quantity of R&D are both above the optimal level.
• D) and quantity of R&D are both below the optimal level.
• E) must fall in order for the market to reach equilibrium.

Understand the perpetual and periodic inventory systems and their implications for financial accounting.

Recognize sales discounts and how they are recorded in accounting transactions.

Understand how the return of merchandise impacts financial records.

Distinguish between various financial statements and their primary purposes.

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Definitions:

Functional Magnetic Resonance Imaging

A neuroimaging procedure that measures brain activity by detecting changes associated with blood flow.

Positron Emission Tomography

A functional imaging technique that uses radioactive substances to visualize and measure changes in metabolic processes, and in other physiological activities including blood flow, regional chemical composition, and absorption.

Neurofeedback

a type of biofeedback that focuses on providing real-time feedback on brainwave activity to train the brain for better function.

Shaping

A method of teaching new behaviors by rewarding closer and closer approximations to the desired behavior.