An increase in the general price level is termed:
a. the Consumer Price Index.
b. inflation.
c. deflation.
d. stagflation.
e. nominal pricing.
b
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Consider the case of labor outsourcing and labor migration in tradeable goods markets with no barriers to trade.
A. In each country, labor outsourcing will result in the same wage changes as labor migration. B. In each country, labor outsourcing will result in the same employment level changes as labor migration. C. In each country, labor outsourcing will result in the same change in the demand for local public schools as labor migration. D. Both (a) and (b) E. Both (b) and (c) F. Both (a) and (c) G. All of the above. H. None of the above.
A monopolistic competitor exits the industry in the long run if ________
A) total revenue exceeds total cost B) total costs exceed total revenue C) marginal revenue exceeds marginal cost D) marginal revenue equals marginal cost
Which of the following is true of matrix organizations?
A. Employees are more likely to focus on the overall business process rather than on their functional specialty. B. Influence costs are low as there are separate product and functional managers. C. Employees have strong incentives to cooperate with other teams within a company. D. There are well-defined lines of authority, eliminating scope of interdependence and lack of incentives.
Use the following graph to answer the next question.
Assume the economy is initially located on AD0 and AS0. An increase in resource prices would result in price ________ and real domestic output ________.
A. F; A B. F; C C. G; B D. E; B