One disadvantage of using a tournament is that
A. tournaments are not able to identify the most productive workers.
B. workers who view themselves as losing the tournament will quit providing effort.
C. the winners of tournaments are typically overpaid.
D. tournaments are more expensive than time rates or piece rates.
E. no one will apply for tournament-style jobs.
Answer: B
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Investment banks differ from commercial banks in the fact that
A) investment banks work only with wealthy customers while commercial banks work only with private firms. B) commercial banks sell stocks on behalf of their customers while investment banks just finance loans. C) commercial banks issue stocks and bonds while investment banks do not. D) investment banks help other financial institutions and governments engage in financial markets while commercial banks work with individuals. E) commercial banks service the needs of local governments while investment banks work with the federal government.
In the Keynesian cross diagram, the 45-degree line represents the short-run equilibrium condition that:
A. I ? I p. B. Y = PAE. C. Y* = Y. D. PAE = C + I p + G + NX.
Futures contracts are
A. the same as forward contracts. B. contracts with standardized price terms. C. standardized contracts to make or take delivery of commodity at a predetermined place and time. D. All of the above.
If the quantity supplied of money exceeds the quantity demanded of money, people will ________ bonds which will cause bond prices to ________ and the nominal interest rate to ________ until the quantity demanded and quantity supplied of money are equal.
A. buy; fall; rise B. buy; rise; fall C. sell; rise; fall D. sell; fall; fall