Which of the following should not be on a list of things you should do to get an honest evaluation?
A. Have a list of creative solutions to problems that you have encountered.
B. Take your manager to dinner the night before evaluations are due.
C. Illustrate how your actions will improve the company next year.
D. Show how your output influenced the profitability of your division.
Answer: B
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Agnes can produce either 1 unit of X or 1 unit of Y in an hour, while Brenda can produce either 2 units of X or 4 units of Y in an hour. The opportunity cost of producing a unit of X is
A) 1 unit of Y per unit of X for Agnes and 2 units of Y per unit of X for Brenda. B) 1 unit of Y per unit of X for Agnes and 1/2 unit of Y per unit of X for Brenda. C) 1 hour for Agnes and 1/2 hour for Brenda. D) 1 hour for Agnes and 2 hours for Brenda.
Which of the following methods was NOT used to help the North finance the Civil War (1861–1865)?
(a) Selling large amounts of bonds (b) Issuing fiat Federal paper money (c) Raising taxes (d) Selling confiscated property
The market for chewing gum is competitive with a current price of 50 cents per pack and a quantity of 100,000 packs per day. Which of the following events would lead to a new equilibrium price of 75 cents and a new equilibrium quantity of 125,000?
a. an increase in the price of other kinds of candy b. an increase in the price of the ingredients used to make chewing gum c. an agreement by workers in the chewing gum industry to work for lower wages d. a decrease in the number of young people in the population e. a decrease in income
Normative economic principles are concerned with how people ________ make decisions while positive economic principles are concerned with how people ________ make decisions.
A. do; should B. in ordinary life; in power C. in power; in ordinary life D. should; do