Drug companies tend to attribute higher drug prices on
A. the low percentage of attempts that actually result in revenue producing drugs.
B. long testing processes.
C. the low percentage of attempts that actually result in revenue producing drugs and long testing processes.
D. doctors distributing too many free samples.
Answer: C
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The efforts of individuals to protect themselves against losses as a result of inflation
A) are irrational because one person's loss as a result of inflation is someone else's gain. B) can only succeed if everyone correctly anticipates the rate and timing of inflation. C) cannot succeed because no private citizen has the ability to stop inflation. D) use up valuable resources that could have been employed in other ways.
Use the above figure. If this monopolist was not regulated, the profit-maximizing quantity and price would be
A) Q2 and P1. B) Q2 and P3. C) Q3 and P2. D) Q4 and P1.
A transfer payment is a sum of money
a. spent by government for new goods and services. b. shifted between members of a household. c. given by government without a good or service in exchange. d. moved between companies for goods and services. e. required to pay taxes.
On car insurance policies, Countrywide Insurance Company offers drivers an option: Policy 1 features a deductible of $1,000, and it requires a driver to pay an annual premium of $500 . Policy 2 features a deductible of $250, and it requires a driver to pay an annual premium of $1,000
a. In offering these two policies, Countrywide is engaging in illegal price discrimination. b. In offering these two policies, Countrywide is screening drivers. c. Policy 1 is more of a burden for safe drivers than it is for risky drivers. d. In offering these two policies, Countrywide is signaling their quality to drivers.