Diamond rings are relatively scarce because:
A. diamond producers limit the quantity supplied to the market
B. the demand for diamonds is so high
C. of monopolistic competition
D. according to geologists, diamonds are less common than is any other gem-quality stone.
Answer: A. diamond producers limit the quantity supplied to the market
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The table above gives costs at Jan's Bike Shop. Unfortunately, Jan's record keeping has been spotty. Each worker is paid $100 a day. Labor costs are the only variable costs of production. What is the total fixed cost of producing 64 bikes?
A) $200 B) $300 C) $400 D) $500
As a result of moving more decision making from the periphery of the organization toward the center, typically
a. the flow of information to the decision maker that is relevant to the decision can be weakened b. the flow of information from the decision maker that is relevant to the decision should be enhanced c. the incentive structure for the decision maker should be strengthened d. the incentive structure are usually already in place
The equilibrium of supply and demand in a market maximizes the total benefits to buyers and sellers of participating in that market
a. True b. False Indicate whether the statement is true or false
If you observe that the dollar is appreciating because of a permanent change in the U.S. monetary supply, then the money supply must have:
a. fallen. b. stayed the same. c. risen. d. Not enough information is provided to answer the question.