Diminishing returns to labor occur for two primary reasons: 1) as we keep adding new workers, it becomes increasingly difficult to obtain productivity gains through additional specialization; and 2) each additional worker we add has less land and capital to work with
a. True
b. False
A
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In the research that used the audit method to send out 5,000 realistic-looking resumes for advertised jobs in Boston and Chicago, the results show that improving your resume by acquiring new skills and job experience appears to
A) matter for whites and for blacks. B) not matter for whites or blacks. C) matter for whites but not for blacks. D) matter for blacks but not for whites.
The snob effect corresponds best to a
A) negative network externality. B) Giffen good. C) positive network externality. D) bandwagon effect.
Partnership can function as an efficient organizational form when partners have similar backgrounds and skills, and each of their income is largely determined by individual effort
Indicate whether the statement is true or false
Organizational structure forms evolved based on
A) new theories of management. B) the ability of new forms to add accounting profits. C) the ability of new forms to cover the cost of capital. D) the ability of new forms to add value.