Which of the following is not a benefit of the unitary form (Uform) of an organization?
A. Opportunity costs of the time of senior management
B. Improved coordination among functional specialists
C. Higher level of functional expertise
D. Well-defined promotion path
Answer: A
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If a 10 percent price increase generates a 10 percent decrease in quantity demanded, then demand is
A) unit elastic. B) elastic. C) perfectly inelastic. D) perfectly elastic. E) inelastic.
In the circular flow model, households
A) spend earnings from resource sales on goods and services in the product market. B) and firms spend earnings from resource sales on goods and services in the factor market. C) sell goods and services in the input market. D) hire resources sold by firms in the factor market.
According to the above figure, the profit-maximizing price for the monopolist is
A. A. B. B. C. C. D. D.
Economic growth in the U.S. since 1950 has been characterized by:
A. An average growth rate in real GDP that is slower than the growth rate of the population B. A quadrupling of real GDP from 1950 to 2012 C. An average growth rate in real GDP that is faster than the growth rate of the population D. An average growth rate in real GDP per capita of about 6% per year