Megan, an analyst in Ronald's team called in sick on a day when 4 projects were due for completion. Ronald divided Megan's work between the remaining six team-members. Which form of governance is being used here?
a. Etiquette
b. Hierarchy
c. Contract
d. Market
B
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If the price of a good falls and expenditure on the good rises, the demand for the good is _______
A. elastic B. perfectly elastic C. inelastic D. unit elastic
Suppose the nominal interest rate is 7 percent annually, and you deposit $1,000. Inflation in the economy throughout the year is 7 percent. At the end of the year, you have earned:
A. an increase in your purchasing power. B. no increase in your purchasing power. C. no increase in your savings. D. a decrease in your purchasing power.
Which of the following would not be considered money in the hands of the public?
a. cash hidden under a mattress b. a bank's vault cash c. cash in the cash register of a hardware store d. cash stored in the hardware store's vault e. cash in your wallet
If the percentage change in quantity demanded for a good is larger than the percentage change in its price, then the price elasticity of demand of the good is said to be: a. elastic
b. inelastic. c. perfectly inelastic. d. unit elastic.