When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease.
B. prices, causing them to definitely rise.
C. output, causing it to definitely increase.
D. prices, causing them to definitely fall.
Answer: A
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The features of the M-Form of firm organization are
a. divisions have difficulty responding to market changes b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. employee evaluation is hampered by managers often having different skill sets than those the manage
The law of demand implies that the demand curve is Question 25 options:
A. downward sloping. B. upward sloping. C. downward sloping at high prices and upward sloping at low prices. D. upward sloping at high prices and downward sloping at low prices.
The idea of compensating differences is used:
A. by inclusive unions as an argument in bargaining for wage rate increases. B. to justify the application of minimum wages to low-wage labor markets. C. to explain the divergence between wage rates and marginal resource cost. D. to explain wage rate differences based on differing nonmonetary aspects of jobs.
When measuring ________ for the purpose of classifying people as poor, the measurement used is money income.
A. employment B. income C. wealth D. All of the above are correct.