If it is difficult for a firm to attribute the output it produces to a particular worker then
A) a piece-rate system of compensation will be preferable to a salary system.
B) a salary compensation system will be preferable to a commission system.
C) its employees are likely to form a union.
D) a commission system of compensation will be preferable to a salary system.
B
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Which combination is a clear example of "joint products"?
A) Pine paneling and cherry wood B) Cherry wood and cherries C) Cherries and apples D) Apples and crackers
When firms already in the industry produce under conditions of substantial economies of scale, the market is said to be contestable
Indicate whether the statement is true or false
Extremely high rates of inflation such as that experienced by Nicaragua in the 1980s are described as
A. deflation. B. hyperinflation. C. disinflation. D. inflation.
Refer to the above figure. Which arrows represent items that are measured in dollar terms?
A. Arrows A and B B. Arrows C and D C. Arrows A and D D. Arrows B and C