All of the following describe the conflict between divisions EXCEPT
a. some activities across divisions benefit from coordination
b. managers of profit centers care too little about the effects of their decisions on other divisions
c. managers are rewarded only for how well their own division is run
d. A divisional manager does not have authority to run her division efficiently
d
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"As the quantity of labor hired increases, the value of marginal product stays constant as long as the wage rate is constant for all workers." Is the previous statement correct or incorrect? Explain your answer
What will be an ideal response?
A consumer's budget constraint is
A) the limited income that a consumer has to spend on goods and services. B) the extent to which one's preferences are limited by one's income. C) the price ratio a consumer faces in the marketplace. D) the rate at which the consumer must give up one good to purchase an additional unit of the other goods in the market.
The Federal Reserve kept interest rates low from 2002 through 2016 because they:
A. wanted to follow the Taylor Rule. B. were worried about inflation creeping into the economy. C. wanted to reduce the value of the dollar and help domestic exporters. D. wanted to avoid deflation and the resulting recession.
Which of the following would be most likely to receive high economic rent payments?
A) farmer B) professional baseball player C) factory worker D) school teacher