Suppose there are two goods (X and Y). On a traditional graph of a budget line a tripling of all prices and incomes will
a. alter the slope of the budget line only.
b. alter the slope of the budget line as well as the Y-intercept.
c. alter the slope of the budget line as well as the X-intercept.
d. leave the budget line unaltered.
d
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In a collusive agreement between two duopolists in an oligopoly, each firm has an incentive to cheat on the agreement because the firm's price
A) exceeds its marginal cost. B) exceeds its marginal revenue. C) is less than its average total cost. D) None of the above answers is correct.
Self-adjustment of markets is assumed in:
A. Classical economic theory. B. Keynesian theory. C. Supply-side economic theory. D. The eclectic viewpoint.
To determine who would be the best person work on a market analytics project to facilitate a company-wide re-branding initiative, Lauren secretly timed and recorded how long it took three of her staff to complete a mini-analytics project before deciding to whom she would assign the project. What tool was Lauren using?
a. She was using the record-time-test tool. b. She was using the work assignment tool. c. She was using the efficiency study. d. She was using the time-and-motion-study.
Which of the following statements is (are) correct? In the insider/outsider model there is
a. unemployment due to the real wage being set above the market clearing level. b. cyclical unemployment in response to changes in aggregate demand. c. structural unemployment in response to hysteresis. d. Both a and b e. all of the above