If the mangers of Golden Bread, a large bakery, acquire a wheat farm to produce the flour for their bread, the managers of Golden Bread are likely to experience all of the following except which one?
A) an increase in managerial diseconomies
B) an increase in the complexity of coordination of Golden Bread
C) the hold-up problem
D) an increase in their required areas of expertise
C) the hold-up problem
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If the U.S. dollar appreciates relative to the British pound, then we pay fewer dollars for a pound
a. True b. False Indicate whether the statement is true or false
A person graduates from college, then starts to look for a job. This is an example of
A. cyclical unemployment. B. frictional unemployment. C. seasonal unemployment. D. structural unemployment.
Assume that good X and good Y each have diminishing marginal utility for a consumer. In this case,
A. an indifference curve linking the two goods will have a constant slope. B. the demand curves for these goods will be positively sloped. C. an indifference curve will be convex to the origin. D. the demand curves for these goods will be horizontal.
When politicians support policies such as imposing punitive tariffs on imports, which are popular among voters but which also reduce economic efficiency, we refer to this as:
A. Regulatory capture B. Voter failure C. Limited and bundled choice D. Paradox of voting