In Response to the Tragedy of Babies Born with Seal

question 111

Multiple Choice

In response to the tragedy of babies born with seal limbs because of thalidomide,this legislation required drugs to be both safe and effective before being marketed.

• A) Food and Drug Modernization Act of 1997
• B) Kefauver-Harris Amendment of 1962
• C) Food, Drug, and Cosmetic Act of 1938
• D) The Food and Drugs Act of 1906

---

Definitions:

Wage Rate

The standard amount of pay given for work performed, typically expressed as an amount per hour or per task completed.

Total Product

The total quantity of output produced by a firm with a given amount of input.

Labor Demand Curve

A graph depicting the quantity of labor that employers are willing to hire at various wage levels, typically showing an inverse relationship between wages and the quantity of labor demanded.

Monopolistic Seller

A monopolistic seller refers to a market participant that has exclusive control over a market for a particular product or service, facing no competition.