Computers became powerful enough to make a real difference in the economy in the
A. 2000s.
B. 1980s.
C. 1990s.
D. 1970s.
Answer: C
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One of the major weaknesses of the Federal Reserve Bank of St. Louis econometric model was that it
A) was large and cumbersome. B) was limited to analyzing an economy with substantial unemployment. C) did not specify the categories of private spending that were affected by monetary policy. D) included a government spending multiplier that was clearly too high.
Businesses go to credit markets in order to
A) obtain capital. B) obtain financial assets that can be used to buy capital. C) obtain capital so they can earn rents. D) channel their savings into investments.
An improvement in technology that allows workers to process twice as many insurance forms in an hour than before will cause
a. more labor to be employed because its marginal revenue product has fallen b. an increase in insurance premiums c. fewer workers to be employed because their marginal revenue product has decreased d. more workers to be employed because their marginal revenue product has increased e. fewer workers to be employed because their marginal revenue product has increased
Evidence suggests that many businesses may waste millions of dollars a year on quality-improvement strategies that don't improve their performance and may even hamper it. Based on this, evaluate the practice of management innovation in architecture critically.
What will be an ideal response?