If a person expects the price of pumpkins to increase next month, then that person's current demand for pumpkins will increase
a. True
b. False
Indicate whether the statement is true or false
True
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A constitutional amendment is passed that requires the government to have an annually balanced budget in the sense that changes in spending should be matched by equivalent changes in taxes. Should the government desire to increase real GDP by $25 billion and meet the provisions of the law, itÂ
A. could increase spending by $25 billion and reduce taxes by $25 billion. B. cannot possibly reach its objective without breaking the law. C. could increase spending by $30 billion and increase taxes by $25 billion. D. could increase spending by $25 billion and increase taxes by $25 billion.
Which factor of production does human capital enhance?
i. land ii. labor iii. capital A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
"Scarcity implies that some way of rationing goods must be found." Explain what this statement means. How is this rationing done?
What will be an ideal response?
As a result of moving more decision making from the center toward the periphery of the organization, typically
a. the flow of information to the decision maker that is relevant to the decision should be enhanced b. the flow of information from the decision maker that is relevant to the decision should be enhanced c. the incentives to make good decisions should be strengthened d. the incentives to make good decisions should be weakened