The "price" of effectively treating AIDS
A. has stayed the same.
B. has gone down substantially with the invention of new drugs that cost less than the older ones.
C. is very difficult to estimate because, prior to the new drugs, there was no effective treatment.
D. has gone up substantially with the invention of new drugs that cost more than the older ones.
Answer: C
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The discounted value of a future payment is also referred to as:
A) implicit value. B) explicit value. C) present value. D) temporal value.
If the price of chocolate chip cookies falls, then
A) the supply curve of chocolate chip cookies shifts rightward. B) the supply curve of chocolate chip cookies shifts leftward. C) there is a movement downward along the supply curve of chocolate chip cookies. D) there is a movement upward along the supply curve of chocolate chip cookies.
If the marginal profit from increasing output by one unit is negative, then to attain an optimum the firm should
a. increase output until marginal profit equals zero. b. reduce output until marginal profit equals zero. c. increase output until marginal profit is maximized. d. reduce output until marginal profit is maximized.
If the value of a country's merchandise exports is less than the value of its merchandise imports, it is said to have a
a. trade surplus. b. trade deficit. c. current account surplus. d. capital account deficit.