Team production is a limiting factor as a solution to incentive problems because:
A. some team members never get along.
B. some team members may perceive the team leader to be a role model.
C. some team members may choose to shirk and let the rest carry the load.
D. the entire team may be inefficient.
Answer: C
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With everything else the same, which of the following would increase the demand for U.S. dollars in the foreign exchange market?
I. a rise in the U.S. interest rate II. a fall in interest rates in foreign countries III. a rise in the expected future exchange rate A) I only B) I and II only C) I and III only D) I, II, and III
A cooperative, or "co-op" for short, is a single-owner firm
a. True b. False
The official definition of a recession is when real GDP declines for two consecutive quarters
a. True b. False
Producer surplus increases as the price of a good decreases.
Answer the following statement true (T) or false (F)