Which of the following explains why managers of government agencies have little incentive to achieve operational efficiency?
a. Public-sector managers need not fear bankruptcy when operational efficiency is not achieved.
b. Public-sector managers seldom receive personal benefits if they find ways to improve the efficiency of their operations.
c. Public-sector agencies typically do not face competition.
d. All of the above explain why government agencies have little incentive to be efficient.
D
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Because we cannot observe or measure utility
A) the predictions of marginal utility theory cannot be verified. B) marginal utility theory is incomplete and so its predictions might not be valid. C) marginal utility theory must be derived from assumptions about demand curves because demand curves can be measured. D) None of the above answers are correct.
Monopolistically competitive firms do not achieve allocative efficiency in the long run because
a. marginal cost equals marginal revenue b. marginal cost is greater than marginal revenue c. marginal cost is less than marginal revenue d. price is less than marginal cost e. price is greater than marginal cost
Suppose a constant-money-growth-rate rule of 3 percent is being considered. If it is estimated that average annual Real GDP growth is 3.5 percent and it turns out that velocity is rising by 2 percent a year on average, the rule would produce an average annual rate of inflation of __________ percent
A) 1.5 B) 2.5 C) 3.0 D) 5.5 E) 2.0
Describe at least three forces in the world which could change to push the world in the direction of antiglobalization