The Donald Wohlgemuth Case Shows That

question 37

Multiple Choice

The Donald Wohlgemuth case shows that

• A) trade secrets can be patented.
• B) trade secrets often become an integral part of an employee's total job skills and capabilities.
• C) employees need to divest themselves of any skill acquired while handling trade secrets.
• D) "noncompete" or "nondisclosure" contracts are always legally valid.

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Definitions:

Potential Output

The highest level of economic output that can be achieved sustainably without causing inflation.

Long Run

A period in which all inputs can be adjusted by firms, and all market adjustments have been made.

Nominal Wages

The amount of money received by an employee before any deductions and not adjusted for inflation; the face value of wages.

Potential Output

The highest level of real GDP that can be sustained over the long term without increasing inflation, reflecting the economy's maximum productive capacity.