What percentage of the new drugs introduced in the United States between 1940 and 1990 were discovered by U.S. firms?
a. 60
b. 30
c. 15
d. 75
e. 45
a. 60
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Purchases of goods and services are included in GDP, but transfer payments are not included
Indicate whether the statement is true or false
When the production of a good creates an external cost, by setting the tax rate equal to the ________, firms can be made to behave in the same way as they would if they bore the cost of the externality directly
A) marginal external cost B) marginal social benefit C) marginal private benefit D) marginal social cost
Changes in business inventories are known as
A) consumer durable. B) consumption goods. C) fixed investment. D) inventory investment.
If a 10 percent decrease in the price of one good generates a 3 percent increase in the quantity demanded for another good, then the
a. two goods are complementary b. cross elasticity between the two goods is positive c. two goods are substitutes d. price elasticity of demand for the good whose quantity demanded increased must be inelastic e. price elasticity of demand for the good whose quantity demanded increased must be elastic