The study of economics arises due to
A) money.
B) scarcity.
C) greed.
D) resources.
Answer: B
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As a result of moving more decision making from the periphery of the organization toward the center, typically
a. the flow of information to the decision maker that is relevant to the decision can be weakened b. the flow of information from the decision maker that is relevant to the decision should be enhanced c. the incentive structure for the decision maker should be strengthened d. the incentive structure are usually already in place
Changes in relative prices during inflationary periods usually lead to
A. decreases in real income. B. some people gaining real income. C. increases in the purchasing power of money. D. increases in real income.
An economist who favors smaller government would recommend:
A. increases in government spending during recession and tax increases during inflation. B. tax increases during recession and tax cuts during inflation. C. tax cuts during recession and reductions in government spending during inflation. D. tax cuts during recession and tax increases during inflation.
Economists do not consider the smartphone industry perfectly competitive because
A. the government strictly regulates entry and exit. B. smartphone manufacturers each have a small market share. C. there are a large number of smartphone manufacturers. D. smartphones are heterogeneous.