FancyFoods provides a monthly bonus for servers when sales volume exceeds 120 percent of the same month last year. The size of bonus is tied to the individual server's sales of meals in comparison to an average server's sales. This system attempts to introduce a(n):
A. group performance contract.
B. relative performance contract.
C. absolute performance contract.
D. risk-sharing contract.
Answer: B
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The Chairman of the Federal Open Market Committee is also
A) the president of the Federal Reserve Bank of New York. B) the chairman of the Securities and Exchange Commission. C) the chairman of the Federal Deposit Insurance Corporation. D) the chairman of the Board of Governors.
Refer to Scenario 8.2. The result of the tax in the long run will be that
A) Q falls from 30,000; P rises by less than $20,000. B) Q falls from 30,000; P rises by $20,000. C) Q falls from 30,000; P does not change. D) Q stays at 30,000; P rises by $20,000. E) Q stays at 30,000; P rises by less than $20,000.
According to the graph shown, what is the market price?
This graph represents the cost and revenue curves of a firm in a perfectly competitive market.
A. P1
B. P2
C. P3
D. Cannot tell from the graph.
Which of the following is not affected by the level of economic activity in a country?
a. The amount spent by entrepreneurs for the installation of new machinery b. The amount spent by consumers to buy goods and services c. The amount spent by government for the provision of social security d. The amount spent by government for the expansion of roadways