EEP143 Quiz 1l 071002AnswersFinal

EEP143 Quiz 1l 071002AnswersFinal - EEP143, Fall 2007 First...

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EEP143, Fall 2007 First Midterm Exam Answer Key Instructions : Put your name on your blue book. Read the whole exam before answering the questions. Each question has equal weight. Answer four questions. Answers should not be long, but they must be to the point. 1. Answer TRUE or FALSE or UNCERTAIN and explain your answer in a few sentences at most. (a) The first patents were issued in Venice in 1474. Explain. FALSE. See Lecture 5 Brunelleschi’s patent on Il Badalone Florence 1421. (b) The Bayh-Dole Act allowed patenting of publicly funded research for the first time. FALSE. Publicly funded research had been patentable in many instances (e.g. Cohen – Boyer patents) but Bayh-Dole generalized this right. (3) In the United States Federal and Industry investment in research diverged between 1953 and 1980. FALSE: Diverged then reconverged. See slide 13, lecture 2. (4) In the Nordhaus model, the tradeoff in setting patent life is between greater cost reduction and greater present value of deadweight loss. TRUE. Mention incentive, cost reduction, deadweight loss and patent life.
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This note was uploaded on 08/01/2008 for the course ECON 143 taught by Professor Wright during the Fall '07 term at Berkeley.

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EEP143 Quiz 1l 071002AnswersFinal - EEP143, Fall 2007 First...

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