Drug companies tend to attribute higher drug prices on
A. doctors distributing too many free samples.
B. high invention costs and long testing processes.
C. high invention costs.
D. long testing processes.
Answer: B
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When Wilma in Wisconsin buys stock in BMW in Germany, NCO:
A. decreases. B. is unaffected. C. increases. D. is zero.
The secondary market for bonds is a market for
a. bonds that is smaller than the primary market b. bonds that are not first-class c. previously issued bonds d. bonds that are not substitutes for bonds found in the primary market e. newly issued bonds
If perfectly competitive firms are earning positive economic profits in the short run, then in the long run other firms will enter the market.
Answer the following statement true (T) or false (F)
If the demand curve for a product is vertical, then
A. the price elasticity of the product approaches zero. B. the demand for the product is elastic. C. only a certain amount of the product will be consumed if the price falls to zero. D. the demand for the product is perfectly elastic.