The regulatory agency with oversight responsibility for the pharmaceutical industry is(are) the:
a. Health Care Financing Administration.
b. the National Institutes for Health.
c. the Federal Emergency Medical Administration.
d. the Centers for Disease Control.
e. the Food and Drug Administration.
e. the Food and Drug Administration.
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Refer to the following figure. Which of the following expresses economic growth?
a. Movement from Point U to Point C
b. Movement from Point U to Point D
c. Movement from Point U to Point E
d. A shift of the Production Possibilities Curve from PP1 to PP2
Which of the following will not happen as a consequence of a monopolistically competitive firm suffering economic losses in the short run?
A) The firm will exit the industry if it continues to suffer economic losses. B) In the long run the firm will be able to charge a price that is greater than its average total cost. C) The firm's demand curve will shift to the right if it stays in business in the long run. D) The firm will break even if its stays in business in the long run.
According to the quantity theory of money, an increase in the stock of precious metals or bills of exchange usually results in increased trade and rising prices. Both economic events helped merchant capitalists and the king
Indicate whether the statement is true or false
For a monopsonist, the marginal factor cost is always:
a. equal to the wage rate. b. less than the wage rate. c. greater than the wage rate d. the same as the labor supply. e. the same as the labor demand.