A manager who tries to enhance worker effort by tying workers' compensation to the profitability of the firm is using:
A. spot checks.
B. profit sharing.
C. piece rates.
D. revenue sharing.
Answer: B
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In the presence of a negative externality in production, a monopoly will produce
A) more than the social optimum. B) less than the social optimum. C) the social optimum. D) All of the above are possible.
Good A is a normal good. The demand curve for good A:
A) slopes downward. B) usually slopes downward, but could slope upward. C) slopes upward. D) usually slopes upward, but could slope downward.
Why do firms tend to experience decreasing returns to scale at high levels of output?
A) Firms face more problems with coordinating tasks and communications among managers and workers at very high levels of output. B) Government tax policy tends to discourage large-scale production operations. C) Firms face fewer problems with inventory management and marketing as output reaches very high levels. D) Firms tend to use more capital and less labor at higher levels of output.
The GDP of Country A is equal to $124.5 billion, and the consumption expenditure in the economy is $85.9 billion. The government of Country A charges a flat tax of 20 percent. The government also spends $4.5 billion per year in the form of transfer payments. The disposable income of the country is equal to: a. $99.6 billion
b. $104.1 billion. c. $124.5 billion. d. $129.0 billion.