Tax evasion is
a. facilitated by legal deductions to taxable income.
b. the same as tax avoidance.
c. recommended by the American Accounting Association.
d. illegal.
d
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For a single-price monopoly, marginal revenue is ________ when demand is elastic and is ________ when demand is inelastic
A) negative; negative B) negative; positive C) positive; negative D) positive; positive
Which of the following statements regarding generic drugs and name-brand pharmaceuticals is false?
A) Pharmaceutical companies have spent large amounts of time and money in their attempts to reduce competition from generic drugs. B) Generic drugs have the same chemical content as the corresponding branded drug. C) On average, a generic drug can reduce U.S. sales of a branded drug by as much as 50 percent in the first six months. D) Pharmaceutical companies need only to renew the patents they have on certain drugs to protect them from competition by generic drugs.