TQM and other management innovations fail because:
A. workers don't underestimate the costs of change.
B. management underestimates the costs of change.
C. management estimates the costs of change correctly but workers don't.
D. management overestimates the costs of change.
Answer: B
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________ refer to the ordinary fluctuations of real GDP around its long-run trend
Fill in the blank(s) with correct word
Refer to Table 2-19. What is Wilma's opportunity cost of making a bench?
A) 3 statues B) 1/2 of a bench C) 1.3 statues D) 1/3 of a statue
Starting from a balanced budget, which of the following would NOT cause a deficit?
A) A decrease in taxes B) An increase in spending of goods and services C) An increase in transfer payments D) A 50 percent increase in spending accompanied by a 40 percent increase in taxes E) None of the above.
The long-run industry supply curve is made up of the zero-profit equilibrium levels of output as the industry expands due to entry of new firms.
Answer the following statement true (T) or false (F)