According to the Consider This box on patents and innovation, the cost for U.S. and European drug companies to research, patent, and safety-test a new drug is about:
A. $100 million.
B. $750 million.
C. $1 billion.
D. $10 billion.
C. $1 billion.
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During the 2000s, the Federal government's deficit rose because of
a. large tax cut in 2001 and 2004.. b. large increases in government spending. c. increases in both the cyclical and structural deficits. d. a recession in 2001. e. all of the above.
The basic difference between the expenditure and income approaches to measuring GDP can be illustrated by transactions in the product and resource markets of the circular flow diagram
Indicate whether the statement is true or false
Adhering to a strict fixed exchange rate system means that
a. no country will experience inflation or recession. b. each nation improves control over its money supply. c. each nation loses some control of its monetary policy and its domestic economy. d. each nation improves control over its fiscal policy and aggregate demand.
A firm is producing the profit-maximizing amount of output when it is producing where its ________ curve intersects its ________ curve
A) MC; MR B) MC; AVC C) MC; ATC D) MC; TR