If the technology, the nature of competition, or the regulatory environment change in an industry, then
A. the organizational architecture will be able to restore the former market environment.
B. a good organizational architecture will shut down.
C. the appropriate organizational architecture will change too.
D. the industry will increase production.
Answer: C
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The aggregate supply curve slopes ________ because a ________ in the price level brings a ________ in the real wage rate
A) upward; rise; rise B) downward; fall; rise C) upward; rise; fall D) upward; fall; fall E) downward; rise; rise
According to the 2005 UNDP Human Development Report child mortality (under age 5) has declined in all regions of the world except:
(a) South Asia (b) Sub-Saharan Africa (c) Middle East and North Africa (d) None of the above
Political incumbents often gain or lose re-election because of a strong or weak economy. Which of the following is an exception to that rule?
A) Al Gore B) George H.W. Bush C) Jimmy Carter D) Herbert Hoover
If a firm hires one worker and eliminates four units of capital, and hires one more worker and replaces three more units of capital, keeping output constant, then
A) workers and capital are perfect substitutes. B) the firm is operating inefficiently because capital is more efficient than workers. C) the firm is experiencing a diminishing marginal rate of technical substitution. D) there are decreasing returns to scale.