While top level executives and the board of directors have wide-ranging discretion on leadership issues, most middle level managers recognize that they must exercise leadership:
A. within the existing architecture.
B. only when told to by the senior management.
C. when the company decides to sell its overseas unit.
D. only when the company decides to integrate upward.
Answer: A
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Why does the absence of well-defined property rights serve as a stumbling block for the application of the Coase theorem?
What will be an ideal response?
A monopolistically competitive industry that earns economic profits in the short run will
A) experience a rise in demand in the long run. B) experience the entry of new rival firms into the industry in the long run. C) experience the exit of existing firms out of the industry in the long run. D) continue to earn economic profits in the long run.
One result of an unanticipated reduction in aggregate demand would be that
A) fewer firms would be hiring. B) more firms would be hiring. C) there would be no change in hiring. D) the price level would rise.
Within the framework of the Keynesian Cross model, if an economy is operating at a real GDP less than full-employment real GDP:
a. a recessionary gap exists b. an inflationary gap exists c. aggregate expenditures will rise d. the general level of prices will rise