The property rights of commissioners appointed to the Food and Drug Administration encourage them to
A) call for additional testing of a new drug even when a delay in approval is liable to cost more lives than additional testing is likely to save.
B) make decisions in the interest of drug manufacturers.
C) make decisions in the interest of physicians and patients.
D) rush new drugs onto the market before they have been adequately tested.
E) work shorter hours and take longer vacations than employees in the food and drug industries.
A
You might also like to view...
Describe the difference between discretionary and automatic fiscal policy
What will be an ideal response?
If the price level rises, the quantity of
A) nominal money people demand increases. B) real money people demand increases. C) nominal money people demand decreases. D) real money people demand decreases.
For a perfectly competitive firm, the value of marginal product diminishes as employment increases because the
A) price falls as the firm's production increases. B) marginal revenue decreases as the firm's production increases. C) marginal product decreases as the firm's production increases. D) None of the above answers is correct.
The above figure illustrates a single-price unregulated monopolist. If the monopolist maximizes its profit, the consumer surplus equals ________
A) $20,000 B) $10,000 C) $45,000 D) $40,000