(Consider This) According to the Consider This Box on Patents

question 79

Multiple Choice

(Consider This) According to the Consider This box on patents and innovation, the cost for U.S. and European drug companies to research, patent, and safety-test a new drug is about

• A) $100 million.
• B) $750 million.
• C) $1 billion.
• D) $10 billion.

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Definitions:

Exchange-rate Systems

These are frameworks established by countries to govern how their currencies exchange with one another, including floating, fixed, and pegged exchange rates.

Flexible-rate

A type of exchange rate regime where the value of a currency is allowed to fluctuate according to the foreign exchange market forces of supply and demand.

Fixed-rate

An interest rate that remains constant over the life of a loan or investment.

Current Account

A part of the balance of payments of a country, accounting for trade balance, net primary income, and net secondary income transactions with foreign entities.