The features of the M-Form of firm organization are
a. divisions have difficulty responding to market changes
b. it is difficult to maintain customer relationships
c. there is less coordination across the firm's divisions
d. evaluating employees is easier because managers typically are similarly trained
c
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The estimates of the magnitude of government spending increase needed to have ended the 2007-2009 recession in the United States vary, based on the actual size of the expenditure multiplier, and range from
A) $250 million to $1 billion. B) $50 billion to $250 billion. C) $400 billion to $2.5 trillion. D) $5 trillion to $15 trillion.
If the MPC were .75, what change in government spending (in billions of dollars) would be required to cause the equilibrium level of GDP to fall by 100?
A. A decrease of 25. B. A decrease of 50. C. A decrease of 75. D. A decrease of 100.
Most economists believe that there are positive externalities in education. One can conclude that a free market would fail to give the socially optimal outcome because the equilibrium:
A. price and quantity would be too high. B. price would be too low and quantity would be too high. C. price and quantity would be too low. D. price would be too high and quantity would be too low.
If prices are held below the equilibrium price:
A) there exists a surplus in the market. B) there exists a shortage in the market. C) social surplus is maximized. D) all firms earn positive economic profits.