The chairman of the United States Federal Reserve Board said in a television interview that he was optimistic about the economy, and stock markets rose worldwide the next day. This is an example of:
A. Legitimate power.
B. Coercive power.
C. Referent power.
D. Expert power
Answer: D. Expert power
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If a market is controlled by a perfect-price-discriminating monopoly, then
A) a deadweight loss is generated. B) there is no consumer surplus. C) consumer surplus is the same as under perfect competition. D) output is less than that of a single-price monopoly.
About _____% of Americans between the ages of 25 and 60 will experience at least one year below the official poverty line
a. 3% b. 10% c. 27% d. 40%
Over the years, U.S. government spending has ________
A) increased but government revenue has decreased B) decreased but government revenue has increased C) decreased and government revenue has also decreased D) increased and government revenue has also increased
The term "surplus" refers to a:
A. market that sells secondary goods. B. situation in which the quantity supplied is less than the quantity demanded. C. situation in which the quantity demanded is less than the quantity supplied. D. signal that producers need to increase the price of the good.