Which of the following is true of the FDA's role in the introduction of a new drug in the market?
A) The FDA bases its approval of a new drug on the rule of caveat emptor.
B) The FDA limits itself to providing relevant suggestions to improve the drug.
C) The FDA possesses the power to implement a complete ban on a questionable drug.
D) The FDA prosecutes producers of questionable medicines directly through the powers vested by the U.S. Department of Justice.
C
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What is the rationale behind the ceiling when applying the lower-of-cost-or-market method to inventory?
a. Prevents understatement of the inventory value. b. Allows for a normal profit to be earned. c. Allows for items to be valued at replacement cost. d. Prevents overstatement of the value of obsolete or damaged inventories.
In your opinion, the relationship between the thing desired and the potential purchaser is best defined as:
A: The relationship between utility and value; B: The relationship between demand and value; C: Value; D: The present worth as opposed to future income.