Which of the following statements is true about information transfer within an organization?
a. More information is always better.
b. People at higher levels cannot add to the quality of a decision when an employee lower in the order has all the information and is able to take the decision on his/her own.
c. Decision relating to a particular department in an organization usually depends only on the information provided from that department.
d. Optimal amount of information removes the risk of errors in decision-making.
B
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A firm's primary interest when it hires an additional worker is
A) whether or not the new worker gets along with the firm's existing workers. B) the cost of hiring the additional worker. C) how the average output of the firm will be affected by this new worker. D) the extra revenue the firm realizes from hiring that worker.
The monopolistically competitive firm in short-run equilibrium
a. faces a downward-sloping demand curve. b. has a marginal revenue curve which lies below its demand curve. c. maximizes profit where MR = MC. d. All of the above are correct.
Governments grow because low income individuals cannot use the political process to redistribute income towards themselves.
A. True B. False C. Uncertain
Refer to the table. In a choice between parks and education:
A. no voter decision is possible.
B. a majority of voters would favor education.
C. the outcome would depend on which item was listed first on the ballot.
D. a majority of voters would favor parks.