For an employee (agent) with formal leadership assignments or title, specific knowledge can be:
A. something that evolves into general knowledge.
B. the result of an intuitive translation.
C. a significant source of power in ratification of proposals.
D. a problem and a potential reason for loss of employment.
Answer: C
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The goal of the World Bank is to
A) sell the government securities of member nations on the open market. B) supervise exchange rate stability. C) help finance economic development. D) supervise the activities of the central banks of member nations.
When a government imposes penalties on both sellers and buyers of an illegal good, the price of the good ________ and the quantity ________
A) falls; decreases B) falls; might increase, decrease, or not change C) rises; might increase, decrease, or not change D) might rise, fall, or not change; decreases
Some economists believe that when workers and firms expect a recessionary monetary policy, _____. a. they act so as to prevent the price level from increasing b. their actions lead to a further increase in output c. they are likely to negotiate for relatively lower wages
d. the monetary authority is forced to cancel its planned recessionary policy e. both output and employment increase even more than was originally planned
Refer to Figure 22.3 for a perfectly competitive firm. If the market price is $23,
A. Economic profits are zero. B. The firm will have above-normal profits. C. The firm should produce 31 units. D. The firm should produce 25 units.