Management is the process of:
a. Controlling others' lives
b. Using resources to achieve goals
c. Changing one's perspective for the better
d. Acting in a habitual or repetitive pattern
B
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Specialization and trade exploit differences in productivity across workers and
A) make everyone better off. B) only benefit the importer. C) make everyone worse off. D) only benefit the exporter.
Refer to the scenario above. If there is fairness penalty of $12, ________
A) this game will no longer have a Nash equilibrium B) this game will have two Nash equilibria C) Nash equilibrium will occur when both of you choose "friend" D) Nash equilibrium will occur when both of you choose "foe"
When government mandates participation in a program to solve an information asymmetry problem, it is trying to prevent:
A. building a reputation. B. illegal screening. C. moral hazard. D. adverse selection.
Positive externalities occur when an economic activity has a spillover ______ that ______ affect those directly engaged in the activity.
Fill in the blank(s) with the appropriate word(s).