The production possibilities curve tells us that if full employment exists and a nation wishes to permanently increase its production of military goods, it must
A. also increase its production of nonmilitary goods.
B. reduce its output of nonmilitary goods.
C. suffer inflation.
D. suffer unemployment.
B. reduce its output of nonmilitary goods.
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If a competitive market operates perfectly, it relies on
A) the number of people buying goods. B) the laws of supply and demand. C) how much people are willing to pay for the products. D) how many products can be produced for sale.
Employees at Xeta Inc are divided into teams and each team is then assigned work. However, the management often finds it difficult to measure the level of effort each worker provides as the output is generated by the team as a whole
What can the management do to motivate workers to refrain from shirking?
If a monopolist's price is $50 at 63 units of output and marginal revenue equals marginal cost, and average total cost equals $43, then the firm's total profit is
A) $3,150. B) $2,709. C) $441. D) $7.
Assuming Vice President Smith has to sacrifice more than his assistant in order to engage in full-time typing, we would say that his assistant has a(n) ________ advantage in typing versus Mr. Smith
A) absolute B) comparative C) pecuniary D) overwhelming