Economists who are willing to accept mild inflation consider it to be a necessary by-product of high and growing spending that produces high levels of output, full employment, and economic growth.
Answer the following statement true (T) or false (F)
True
You might also like to view...
As a result of moving more decision making from the center toward the periphery of the organization, typically
a. the flow of relevant information to the decision maker should be enhanced b. the flow of relevant information from the decision maker should be enhanced c. the incentives to make good decisions can be weakened d. the reporting of information that is required to make the decision can be relaxed
Inefficient allocation of resources occurs when
a. no one can be made better off without having someone else give up something. b. it is possible to make some people better off without making others worse off. c. society is operating at a point high on the production possibilities frontier. d. society is operating at a point low on the production possibilities frontier.
Increasing opportunity costs of producing goods imply that the production possibilities curve will be
a. downward sloping. b. upward sloping. c. bowed inward. d. bowed outward.
Which of the following is a characteristic of a general? partnership?
A. Partnerships do not have to pay? taxes, but a corporation does. B. The partners have joint liability for the? firm's financial obligations. C. It is a corporation. D. Only one partner can make decisions. E. It is owned by one individual.