What factors are held constant along a given demand curve for a good?
a. the price of the good
b. the technology used to produce the good
c. the supply of the good
d. consumer incomes and the prices of other goods
d
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Suppose there is an oil supply shock to the U.S. economy due to an embargo by major oil producing nations. According to the real business cycle theory, the supply shock will, other things being equal
A) cause economy-wide deflation. B) cause real Gross Domestic Product (GDP) to decline both in the short run and in the long run. C) push the economy into an expansionary phase of the business cycle. D) push real Gross Domestic Product (GDP) upward in the short run but downward in the long run.
An increase in congestion costs associated with a public good provided through clubs will _____
a. lead to new clubs being formed b. lead to a reduction in the optimal size of the club c. be unrelated to congestion costs d. lead to fewer clubs being formed
Suppose you have a choice between receiving a lump-sum payment of $10,000 today or four annual payments of $2,750 (with the first payment today). Of the following, which is the lowest annual interest rate at which you would prefer the lump-sum payment over the four annual payments?
a. 2% b. 5% c. 7% d. 10%
Which of the following is true of the management function of directing/leading? Group of answer choices
a. All managers are involved in directing/leading, but it is most important for top- level managers. b. Directing/leading designs the map that lays the groundwork for the other managerial functions. c. Good directing/leading does not require the implementations of deadlines. d. Directing/leading involves determining and administering appropriate rewards and recognition e. Telling employees what to do and when to do it is against the principles of directing/leading.