The organizational structure where organizations are divided by products or divisions
a. functional
b. line and staff
c. product
d. matrix
Ans: c. product
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Which of the following is not a consequence of minimum wage laws?
A) Employers will be reluctant to offer low-skilled workers jobs with training. B) Some workers benefit when the minimum wage is increased. C) Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage. D) Low-skilled workers are hurt because minimum wage reduces the number of jobs providing low-skilled workers with training.
Between 1965 and 1972, eight major pieces of consumer-protection legislation were enacted. This burst of legislative activity was largely driven by
a. increased public fears following the thalidomide tragedy. b. public outcry following a series of steamboat explosions. c. a general lack of faith in the market. d. widespread support for the "Reagan Revolution.".
When the inflation rate rises, the purchasing power of nominal income:
a. remains unchanged. b. decreases. c. increases. d. changes by the inflation rate minus one.
All of the following are forms of price discrimination, except one. Which is the exception?
a. cents-off coupons for use at the grocery store b. different prices for movie tickets for children and adults c. making airline reservations 30 days in advance and receiving a lower rate d. different prices for prescription drugs for senior citizens and others e. different prices for "2nd day delivery" and "next day air delivery"