When short-term concerns (deadlines) create priorities and longer range management needs are driven out, this part of:
a. McGregor's Law
b. Gresham's Law of Planning
c. Dorsey's Principle
d. Lucien's Law
B
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One difference between monopolistic competition and pure competition is that
A. products may be homogeneous in monopolistic competition. B. there is some control over price in monopolistic competition. C. firms differentiate their products in pure competition. D. monopolistic competition has significant barriers to entry.
Which of the following applies to the tragedy of the commons? I. In the absence of government action, there is an absence of incentives to prevent the overuse of the common resource. II
When consumers take account of the marginal social benefit and marginal social cost, overuse of the resource occurs. III. Even with government action, it is impossible for an efficient level of output to be achieved. A) I only B) I and II C) II and III D) I, II and III
The Fed:
a. has little control over the money supply. b. serves as the central bank for the United States. c. often uses a mix of lower taxes in its fiscal policy. d. ensures commercial bank profitability.
When goods or services cross international borders
a. countries must ship gold to make payment. b. money must generally move in the opposite direction. c. a future shipment must be made to offset the current purchase. d. payment must be made in another good, using barter.