U.S. drug laws prohibiting re-importation of prescription drugs prevent
A. the Canadian government from dictating the drug prices to be paid by U.S. citizens.
B. Canadian pharmaceutical distributors from re-selling to American citizens at lower prices.
C. U.S. pharmaceutical companies from earning monopoly profits.
D. American pharmaceutical distributors from re-selling to Canadian citizens at higher prices.
Answer: A
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According to the "Rule of 70," it will take 4 years for real GDP per capita to double when the growth rate of real GDP per capita is
A) 4 percent. B) 12.25 percent. C) 17.5 percent. D) 28 percent.
Which statement is true?
A. The monopolist usually operates at the minimum point of its ATC.
B. Nearly all monopolies are very large firms.
C. Most natural monopolies produce agricultural products or natural resources.
D. None of these statements are true.
Describe the invisible hand theory.
What will be an ideal response?
A perfectly competitive firm will earn positive economic profits in the range of output for which the firm’s price is _________ its minimum average total cost.
A) below B) above C) equal to D) below its marginal cost and