The current rate of unemployment of 5 percent is too high. This is a _______ statement.

Many biologic drug manufacturers are pushing for patent protection to be extended to 12 years before generics are allowed to be introduced to the market. This reflects which of the following barriers to entry?

A) network externalities B) entry blocked by government action C) economies of scale creating a natural monopoly D) control of a key resource

A short run own price elasticity of demand of -0.20 suggests a price flexibility coefficient of

A) -0.50. B) -2.0. C) +2.0. D) -5.0.