The government agency that controls the development and availability of new medical discoveries, including pharmaceutical drugs is
a. the Health Care Financing Administration.
b. the Food and Drug Administration.
c. the Centers for Disease Control.
d. the National Institutes for Health.
e. the Federal Emergency Medical Administration.
B
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Both an NBA basketball player and a fast-food cook are going to graduate school. Who has a higher opportunity cost? Explain
What will be an ideal response?
If a firm facing a perfectly elastic demand curve raises its price,
a. it will still sell exactly the same amount of output as it did at the lower price b. it will lose some, but not all, of its sales c. its sales will decrease to zero d. its sales will increase e. it is impossible to predict what will happen to its sales
The annual increase in the dollar value of a financial asset is called the:
A. inflation rate. B. real rate of return. C. real interest rate. D. nominal interest rate.
What is economic profit?
What will be an ideal response?