As a patent in a the pharmaceutical industry expires, the market for these drugs
a. Can now be categorized as a competitive market
b. Can now be categorized as a monopolistic market
c. Was and is still a monopolistic market
d. Was and is still a competitive market
a
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A decrease in a wage taxes causes the opportunity cost of leisure to increase.
Answer the following statement true (T) or false (F)
Demand-pull inflation is associated with:
A. decreasing total spending (demand). B. increasing total spending (demand). C. decreasing costs of production (supply). D. increasing costs of production (supply).
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
"Unfair or deceptive acts or practices in commerce" were prohibited by the
A) Clayton Act. B) Clayton Act as amended by the Robinson-Patman Act. C) Federal Trade Commission Act. D) 1938 amendment to the Federal Trade Commission Act.