Patents on prescription drugs last
A. from the moment they have been received by the patent office until they hit the market.
B. from the moment they have been received by the patent office until they are approved by the FDA.
C. forever.
D. from the moment they have been received by the patent office and for several more years.
Answer: A
You might also like to view...
According to the above table, the country will import the good if the world price is less than ________ and will export the good if the world price is more than ________
A) $4; $4 B) $4; $8 C) $10; $10 D) $8; $4 E) $6; $6
If the price of peanuts increases by 10 percent and the price of potato chips does not change, then the relative price of peanuts with respect to potato chips will ________ and the relative price of potato chips with respect to peanuts will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
In an attempt to boost enrollment, in January, 1996, a private college in Iowa offered free tuition for graduating high school seniors from the county where it is located. For students who accepted the offer, how did this offer affect the opportunity cost of attending college?
a. The opportunity cost did not change, since lost earnings were still a factor. b. The opportunity cost became zero for the typical student. c. The opportunity cost was very low, because the only cost was for books and supplies. d. The opportunity cost did not change, since tuition was not a factor in computing opportunity cost. e. The opportunity cost was lower than if tuition was charged, but there was still a cost.
Gretchen expects the price level to rise from 104 this year to 108 next year, and she is able to incorporate these expectations into her wage contract. If the price level rises to 106 next year instead of 108, which of the following will occur?
A) Gretchen's real wage will be unchanged. B) Gretchen's real wage may rise or fall, depending on the unemployment rate. C) Gretchen's real wage will fall. D) Gretchen's real wage will rise.