6. How long does it take for the average new drug to be tested and approved for

sale in the United States?

A. 6 years

B. 3 to 5 years

C. 11 years

D. 2 years

In which one of the following situations is the political process most likely to result in both the acceptance of efficient (productive) programs and the rejection of inefficient (counterproductive) political activities? a.

Which of the following was not one of the purposes of the Single European Act? A. Remove all frontier controls between EU countries B. Remove the principle of "mutual recognition" as it pertains to product standards C.

If the market equilibrium wage for entry-level fast-food workers is $10 an hour, while the minimum wage is $8, what impact does the minimum wage have in this industry? a. The minimum wage motivates more fast-food workers to seek jobs. b.

When the goods are sold, their costs are transferred from work in process to finished goods. a. True b. False?

Consider two straight-line PPFs. They have the same vertical intercept, but curve I is flatter than curve II. The opportunity cost of producing the good on the horizontal axis (A) is greater along curve I. (B) is greater along curve II.

Manufacturing builds playground equipment that it sells to elementary schools and municipalities. Schengen's management has contracted you to perform a variance analysis on the fixed manufacturing overhead for its line of slides.

It becomes particularly urgent for a company to consider diversification when there are needs to avoid putting all of its "eggs" in one industry basket. diminishing market opportunities and stagnating sales in its principal business.

The compensation for bearing more risk in owning an asset is a higher rate of return for the asset true or false

What is the term economists use to refer to the relationship that a higher price leads to a lower quantity demanded? law of demand income gap market equilibrium price model

Why did most corporate boards of directors pressure CEOs to resign, even though less than majority of shareholders revolted to get thrm ousted?