When a drug company develops a new drug it is granted a ________ making it illegal for other firms to enter the market until the ________ expires

An effective policy of governmental intervention in the economy requires all of the following except one. Which is the exception?

a. The will to reject sound policy if it gets in the way of political considerations b. The ability to estimate the economy's potential level of output c. The ability to predict what would happen without intervention d. An assortment of effective tools of discretionary policy e. The ability to achieve effective cooperation between fiscal and monetary policy makers

Jim transfers money from his money market account to his savings account. This action

a. reduced M1 and increases M2. b. increases M1 and reduces M2. c. has no effect on M1 or M2. d. increases M1 and M2.