When decision rights are decentralized, typically
a. decisions are being moved to those with less of the relevant information
b. decisions are being moved to those with stronger incentives to make good decisions
c. decisions are being moved away from those with more of the relevant information
d. decisions are being moved to those with weaker incentives to make good decisions
d
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John Maynard Keynes argued that the fundamental problem which led to the world depression was
A) insufficient demand for goods and services. B) a shortage of goods and services. C) negative net exports on goods and services. D) a decreasing supply of goods and services.
Can frictional unemployment ever be totally eliminated? Explain your answer
What will be an ideal response?
Long-run equilibrium under monopolistic competition is similar to long-run equilibrium under perfect competition in that:
a. price equals the minimum average total cost. b. firms face perfectly elastic demand curves. c. price equals average cost d. marginal revenue equals average cost.
The CPI was 220 in 2012 and 231 in 2013 . Phil borrowed money in 2012 and repaid the loan in 2013 . If the nominal interest rate on the loan was 10 percent, then the real interest rate was
a. -5 percent. b. -1 percent. c. 5 percent. d. 3.2 percent.