When you choose the best action for each situation
a. situational leadership
b. participative leadership
c. autocratic leadership
d. laissez faire leadership
Ans: a. situational leadership
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Refer to the game between James and Theodore depicted in Figure 12.1. Which of the following is true?
A. If James chooses Up, Theodore's best response is to choose Left.
B. If James chooses Down, Theodore's best response is to choose Right.
C. If Theodore chooses Left, James's best response is to choose Up.
D. If Theodore chooses Right, James's best response is to choose Down.
Which of the following does not contribute to a pro-business climate for investors?
A. Secure property rights. B. Minimal government regulation. C. High tax rates. D. Legalized profit.
Employee benefits mandated by the government make it
A. More difficult to achieve full employment with stable prices. B. Easier to achieve stable prices but more difficult to achieve full employment. C. Easier to achieve full employment with stable prices. D. Easier to achieve economic growth.