Which of the following strategies are adopted by a business tycoon when the first new management of the purchased company fails?
a. He tries a second management team.
b. He tries to train and motivate the existing management team.
c. He sells off part of the company in the market.
d. He tries to reduce the cost of production by lowering output.
A
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The GDP chain price index is designed to adjust nominal GDP for changes in:
a. the level of transfer payments. b. the quality of goods over time. c. the costs of economic bads such as pollution and crime. d. the general level of prices over time.
Why does the wage gap between average wages for men and women exist?
a. There is systemic discrimination in labor markets. b. Men and women do not have the same skill sets. c. Men and women make different choices. d. There is no government policy regarding equal pay for equal work.
Keynes argued that the factors that make up aggregate demand are stable and do not change unexpectedly.
Select whether the statement is true or false. A. True B. False
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.2 shows how much of each good Jesse and April can paint in one hour. Which of the following is true?
A. April has both an absolute and comparative advantage in painting kites. B. April has both an absolute and comparative advantage in painting snowboards. C. April has neither an absolute nor comparative advantage in painting kites. D. April has neither an absolute nor a comparative advantage in painting snowboards.