Which of the following statements regarding generic drugs and name-brand pharmaceuticals is false?
A) Pharmaceutical companies have spent large amounts of time and money in their attempts to reduce competition from generic drugs.
B) Generic drugs have the same chemical content as the corresponding branded drug.
C) On average, a generic drug can reduce U.S. sales of a branded drug by as much as 50 percent in the first six months.
D) Pharmaceutical companies need only to renew the patents they have on certain drugs to protect them from competition by generic drugs.
D
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Price elasticity of demand is measured using percentage changes. Why?
What will be an ideal response?
Common stock differs from preferred stock in that
a. common stock carries a guaranteed interest return b. preferred stock is only issued to the original creators of the corporation c. preferred stock is only issued to the largest investors in the corporation d. common stock carries the right to vote at shareholder meetings e. preferred stock carries the right to vote at shareholder meetings
Among the accomplishments of Nobel Laureate Simon Kuznets is his pioneering research on
a. the sunspot theory of cycles b. war-induced cycles c. population-induced cycles d. innovation cycles e. housing cycles
Superfund relies in part on strict liability, which means that
a. an individual can be held liable even if negligence is not proven b. only current waste site owners are liable for damages c. polluters can be held liable for damages but not waste site owners d. a single party can be held liable for all damages even if their contribution to damages is minimal