Assume That Australians Develop a Strong Preference for German Cars

question 149

Multiple Choice

Assume that Australians develop a strong preference for German cars relative to cars manufactured in Australia.This will,ceteris paribus,

• A) increase the demand for German cars relative to Australian cars, increase the demand for the euro, and the euro should appreciate against the dollar.
• B) decrease the demand for German cars relative to Australian cars, decrease the demand for the euro, and the euro should depreciate against the dollar.
• C) increase the demand for German cars relative to Australian cars, decrease the demand for the euro, and the euro should appreciate against the dollar.
• D) increase the demand for German cars relative to Australian cars, decrease the demand for the euro, and the euro should depreciate against the dollar.

Comprehend the distinctions between copyright, patent, and trademark protections.

Understand the duration and validity conditions of patents.

Recognize the limitations and scope of copyright protection, including international aspects.

Familiarize with major organizations and legislation in the field of intellectual property.

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Definitions:

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating scarce resources to satisfy their unlimited wants.

Predictable

Able to be foreseen or declared in advance; capable of being predicted.

Absolute Value

The non-negative value of a real number without regard to its sign; it represents the distance of a number on the number line from the origin.

Budget Line

A graphical representation of all possible combinations of two goods which a consumer can afford given their income and the prices of the goods.