Firms organize production by using a mix of
A) command and incentive systems.
B) market and agency systems.
C) command and market systems.
D) incentive and agency systems.
A
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A perfectly competitive firm is producing at the point where its marginal cost equals its marginal revenue. If the firm boosts its output, its total revenue will
A) rise and its total variable cost will rise even more. B) rise and its total variable cost will rise, but not by as much. C) fall but its total variable cost will rise. D) fall and its total variable cost will fall, but not by as much.
Given the information in the above table, the relationship between x and y is
A) positive, and the curve becomes flatter as x increases. B) positive, and the curve becomes steeper as x increases. C) positive and linear. D) negative and linear.
The portfolio theories of money demand state that when income (and therefore, wealth) is higher, the demand for the money asset will ________ and the demand for real money balances will be ________
A) rise; higher B) rise; lower C) fall; higher D) fall; lower
The Social Security system in the United States today is
a. actuarially sound. b. composed of a private pension fund into which workers have paid and who will withdraw their invested funds upon retirement. c. currently in no danger of running out of money in the long run. d. no longer a "pay as you go" system.