Which country has the largest net public debt as a percent of GDP?
a. United States
b. France
c. Japan
d. Canada
c
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A pharmaceutical company faces a price regulation where it cannot charge any higher than $5,000 for a lifesaving drug. The company knows that the patients put a high value on this product and are willing to pay up to $10,000 for it. The company decides to sell the drug together with periodic blood testing for $10,000 . This is an example of
a. Tying b. Bundling c. Fraud, the company is not allowed to sell for any higher than the regulatory pric d. Both A&B
Labor demand is less elastic when:
A. the inputs that could be substituted for labor are relatively inexpensive. B. a large amount of labor is essential to the production process. C. there are many substitutes for labor in the production process. D. the demand for output is more elastic.
Each of the following is an inferior good except
A. rice. B. potatoes. C. beans. D. Filet Mignon steak.
Exchange rates (for instance, the dollar price of yen) tend to be different worldwide at any point in time because of different tastes for currencies in each country
Indicate whether the statement is true or false