Which of the following is an argument in favor of judging competitiveness by performance rather than structure?
A. Under the judgment by structure criterion, a firm may be breaking the law if it does what it's supposed to be doing: producing the best product it can at the lowest cost.
B. Courts know little economic theory.
C. Structure can be a predictor of future performance.
D. Judgment by performance requires that each action of a firm be analyzed on a case-by-case basis, which is very time-consuming and expensive.
Answer: A
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Consider the two graphs above. Suppose there is an increase in the real interest rate. This would ________ the desired level of the capital stock, as depicted in graph ________
A) increase; B B) increase; A C) decrease; B D) decrease; A
_____ varies along a given aggregate demand curve
a. The nominal interest rate in the domestic country b. The exchange rate between the domestic currency and a foreign currency c. The aggregate supply in a foreign country d. The price level in the domestic country e. The prices of resources used in production
Plain Truth Adverting employs KPR, a large accounting firm, to audit its books each year. This involves considerable expense for the advertising firm, since its sales account managers are very independent and each maintains his separate record-keeping systems. Should the CEO at Plain Truth cancel the audit and rely on a brief year-end summary from each sales account manager? Why or why not?
What will be an ideal response?
Fiscal policy refers to the idea that aggregate demand is affected by changes in
a. the money supply. b. government spending and taxes. c. trade policy. d. All of the above are correct.