We typically think of labor as a variable cost, even in the very short run. However, some labor costs may be fixed. Which of the following items represents an example of a fixed labor cost?
A) An hourly employee
B) A temporary worker who is paid by the hour
C) A salaried manager who has a three-year employment contract
D) none of the above
C
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An example of a price floor is a
A) rent control. B) minimum wage. C) subsidy. D) quota.
A transfer payment is a payment by the government to an individual
A) for an investment good. B) for which the government does not receive a good or service in return. C) for a debt owed. D) for a service. E) for a consumption good.
Which agreement was signed in 1944 with the purpose of creating a new international payment system?
A) Philadelphia Accord B) Bretton Woods C) Camp David D) Lake Geneva
Enron was clearly a company riddled with fraud and its conduct drove it to bankruptcy. The text argues that individual behavior was not the core of Enron's problems. What were the problems with this corporation from an organizational architecture point of view?
What will be an ideal response?