Cutting the length of patents. suppose that a group of consumer activists claims that drug companies earn excessive profits because of the patents they have on drugs. the activists advocate cutting the length of time that a drug company can hold a patent to five years. they argue that this will lead to lower prices for drugs because competitors will enter the market after the five-year period. do you see any drawbacks to this proposal? a. it will result in only induced innovation. b. it will promote "creative destruction," as outlined by joseph schumpeter. c. it will reduce the incentive for drug companies to invent new drugs. d. all of the above.

question 1

the reasons for the global discontent in the early 1900s were the following:

desire for independence   was the main fight of many territories which were still under the control of colonial powers. dissatisfaction with peace terms of wwi . the best example is the case of germany, that was forced by the peace treaties to pay very expensive war reparations to the winners of wwi. some time later, german leaders broke relations and stopped recognizing the authority of those who imposed sanctions on their country, counting with the support of the population that was suffering the important economic consequences of the payment of reparations. overproduction of consumer goods which led to hyperinflation scenarios and very week currencies and economies.

question 2

the reasons for the great depression were the following, and these led to wall street crash in october 1929 and caused the subsequent great recession period.

high personal debt, that ended up with many bankrupt investors. falling stock price as everybody was getting rid of the stocks, many because they could not meet the amounts of money required by the margins that backed their investments.

question 3

italy: led by the fascists and benito mussolini   and promised to restore the greatness of the roman empire. germany: led by adolph hitler and the nazi party and conducted anti-jewish riots in austriajapan: was controlled by aggressive military leaders and invaded countries for their resources

2.