If firms were teams then there would be a problem of
A) free-riding.
B) spontaneous order.
C) market-based management.
D) internal externalities.
A
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Individuals who are not working and are not actively looking for work are counted as unemployed if they have looked for work in the past
Indicate whether the statement is true or false
According to the Phillips Curve, which of the following may have taken place if both the unemployment rate and inflation have risen?
A) a negative supply shock B) an increase in expected inflation C) a severe recession D) a negative demand shock
Predatory pricing is:
A. temporarily slashing prices below cost to force competitors out of the market. B. an aggressive business move to maintain market power. C. used to discourage competitors. D. All of these statements are true.
Harold has always driven cars made by Universal Motors. The last two Universal Motors cars that Harold purchased have had major engine problems resulting in Harold incurring significant cost. Consumer Reports has consistently given Universal Motors poor
ratings. Still, Harold plans to purchase another Universal Motors car next fall. Harold's behavior is an example of which systematic mistake that people make?