About ________ of pharmaceutical patents are issued to U.S. firms
A) 10 percent B) one-half C) two-thirds D) 90 percent
C
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The impact of Hurricane Katrina on consumers in the economy was to make them very pessimistic about their future incomes. How does this increased pessimism affect the aggregate demand curve?
A) This will move the economy down along a stationary aggregate demand curve. B) This will move the economy up along a stationary aggregate demand curve. C) This will shift the aggregate demand curve to the left. D) This will shift the aggregate demand curve to the right.
Best Lights wants to prevent Bright Lights from entering the light bulb market. If Best Lights advertises that it will always undercut any competitor's price, the effect of advertising ________ Best Lights' profits due to its cost and ________ Best Lights' profits due to a(n) ________ in its demand.
A) decreases; increases; increase B) decreases; decreases; decrease C) increases; increases; increase D) decreases; decreases; increase
In the long run, in a monopolistically competitive market, price will be
A) equal to MR. B) equal to MC. C) greater ATC. D) equal to ATC.
Data on miles of main line track in operation between 1860 and 1910 show that:
a. total mileage first increased and then decreased, causing the growth rate to eventually become negative. b. total mileage and the growth rate both increased steadily. c. total mileage increased steadily, but the growth rate tapered off. d. total mileage increased at a constant pace, resulting in a nearly constant growth rate.