Jenny, a Science Scholar, Has Been Working in the Field

question 22

Multiple Choice

Jenny, a science scholar, has been working in the field of nanotechnology for more than seven years. She has developed a new technique that can be used to treat melanoma. She wants to acquire a patent for this technique. Which of the following facts should Jenny know before applying for a patent?

• A) The patent application process is time-consuming.
• B) Patents are not backed by the government.
• C) Patents are applicable only in the home country where it has been registered.
• D) Applying for a patent is cheaper compared to other forms of protecting intellectual property.

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Definitions:

Economic Instability

A situation where an economy experiences significant fluctuations in its economic activities, such as employment, output, and prices, often leading to uncertainty and unpredictability.

Activist Monetary Policy

Activist monetary policy refers to proactive measures taken by central banks to counteract economic fluctuations through adjusting interest rates and altering the money supply to stabilize the economy.

Monetarists

Economists who believe that variations in the money supply have major influences on national output in the short run and the price level over longer periods, and that objectives of monetary policy are best met by targeting the growth rate of the money supply.

Real GDP

The market value of all final goods and services produced within a country in a particular period, adjusted for inflation.