The three central questions for efficient organizational design include all EXCEPT
a. does the decision maker have the relevant information?
b. is the decision maker in a supervisory role?
c. who is making the decision?
d. does the decision maker have an incentive to make a good decision?
b
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Job A is hard, dull, and dangerous. Job B is easy, fun, and safe. All else equal, we would expect Job A to pay
a. higher wages than Job B because the labor supplied for Job B will be greater. b. lower wages than Job B because the labor supplied for Job B will be greater. c. higher wages than Job B because the labor supplied for Job A will be greater. d. lower wages than Job B because the labor supplied for Job A will be greater.
The most common method employed by the Fed to increase the money supply is the
a. sale of U.S. government bonds. b. purchase of U.S. government bonds. c. sale of gold. d. increase of the federal debt ceiling.
Which of the following represents a preventative measure against bank runs?
A. The President of the United States can order banks to pay depositors. B. The FDIC provides deposit insurance. C. The Federal Reserve can lower reserve requirements to ensure that banks have sufficient funds. D. None of these is correct.
The price elasticity of demand for alfalfa is perfectly elastic. Thus, the price elasticity demand for alfalfa is
A. 1.0. B. 0.0. C. -1.0. D. infinity.