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In the 1990s, Pfizer, Inc., developed a new antibiotic called Trovan (trovafloxacin mesylate). Tests showed that in animals Trovan had life-threatening side effects, including joint disease, abnormal cartilage growth, liver damage and a degenerative bone condition. In 1996, an epidemic of bacterial meningitis swept across Nigeria. Pfizer sent three U.S. physicians to test Trovan on children who were patients in Nigeria's Infectious Disease Hospital. Pfizer did not obtain the patients' consent, alert them to the risks, or tell them that Medecins Sans Frontieres (Doctors without Borders) was providing an effective conventional treatment at the same site. Eleven children died in the experiment, and others were left blind, deaf, paralyzed or brain damaged. Rabi Abdullahi and other Nigerian children filed a suit in a U.S. federal district court against Pfizer, alleging a violation of a cursory international law norm prohibiting involuntary medical experimentation on humans. Did Pfizer violate any ethical standards? What might Pfizer have done to avert the consequences?
Explain the following statement: Any deviation from planned output or planned expenditures (Consumption + Investment) will throw the economy into disequilibrium.
Define any key terms that you feel are important in answering the following question as they are defined in the textbook and explain, in your own words what those definitions mean , and then thoroughly analyze each situation to answer the following q..
Describe what is meant by the Gold Standard and what were the problems with the gold standard?
Question about micro economics- Sam Smith owns an internet radio company that has subscribers in Houston and Dallas
Demand and supply functions of tomato are listed below, The maximum value of tomatoes that manufacturer will offer for sale if the price of tomatoes is $ 0.30
Suppose the demand function for a good is expressed as Q = 100 - 4p. If the good currently sells for $10, then the price elasticity of demand equals
)Now suppose that some of President's close political advisers are urging him to adjust taxes but not spending. Assuming the same initial level of G (=500), how would you advise the administration to adjust taxes to reach potential GDP?
Case study any global economic event or events currently or recently covered in the news media and write a critical essay applying the concept points
In the absence of a quota, what is the equation for the total supply of wine? Show your work - what are the equilibrium price and quantity of wine? Show your work.
In each case, do you think the household is better of f or worse off, or is the answer ambiguous? If ambiguous, what does the answer depend on?
The depreciation schedule for a machine has been arrived at by several methods. The estimated salvage value of the equipment at the end of its 6-year life is $600. Identify the resulting depreciation.
W(sub)a= 1/a1(Y1)+1/a2(Y2)+1/a3(Y3)+1/a4(Y4) where a(i) are the constants. a) What restriction on the ai is needed for Wa to be an unbiased estimator of mu? b) Find the variance of Wa.
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