If designed correctly, tournaments
A. always reward a single winner.
B. reduce the applicant pool to just those workers with the best degrees.
C. discourage competition.
D. reward players according to their ranked productivity.
E. elicit equal effort from all workers.
Answer: D
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Jan's Dry Cleaning holds $10,000 on a typical day, although only $2,000 is essential for carrying out business. Making a midday deposit is estimated to reduce cash holdings to $8,000 and cost an extra $80 per year in lost production. If, in addition, an armored car service is engaged to pick up cash more frequently for a fee of $120 per year, cash holdings will be further reduced to $6,000 per day. Employing a computerized cash management service for an annual fee of $180 would reduce cash holdings further to $4,000. If any reduction in cash holdings will be used to purchase government bonds earning 5%, then how much money should Jan's hold?
A. $6,000 B. $10,000 C. $8,000 D. $4,000
Did the 1957 Treaty of Rome turn the EU into a truly unified market?
A) Yes, it paved the way for the current EMU. B) No, although it established a customs union, it failed to remove barriers to the movement of goods and factors within Europe. C) No, it was only after the German unification and locating the ECB in Frankfurt that unity was achieved. D) No, since the Northern members of the EU had larger endowments of capital and skilled labor. E) No, the Treaty of Rome created more trade barriers between European countries.
A situation in which the unregulated competitive market outcome is inefficient because prices fail to provide proper signals to buyers and sellers is known as:
A) an imperfectly competitive market. B) a market failure. C) a deadweight loss. D) a disequilibrium.
Which country is expected to be invited to join NAFTA?
a. Brazil b. Venezuela c. Honduras d. Chile