Although Jack and Vanessa were equally qualified, Jack was promoted to manager instead of Vanessa because the president of the company thought that the other employees would not respect a female manager
The resource, the management position, was allocated in what manner? A) sharing equally
B) contest
C) personal characteristics
D) command
E) lottery
C
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Which of the following best describes a good with perfectly elastic demand?
A) For a given price change, the percentage change in quantity demanded will be less than the percentage change in its price. B) The demand curve for the good initially slopes upward, reaches its maximum, and then slopes downward. C) Even the smallest increase in the price of the good will cause consumers to stop consuming it completely. D) The quantity demanded of the good is completely unaffected by a price change.
The figure above shows Sam's budget line. Which of the following equals the vertical intercept of Sam's budget line?
A) Y/Pc B) Y/Pg C) -(Pc/Pg) D) -(Pg/Pc)
Nash equilibrium is:
a. where one player maximizes his payoff and the other doesn't b. where each player maximizes the expected payoff c. similar to a dominant strategy d. difficult to determine
The Consumer Price Index (CPI) is constructed by
What will be an ideal response?