Leadership characteristics that inspire employees is called
a. chain of command
b. vision
c. charisma
d. motivation
Ans: c. charisma
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Refer to Figure 12-9. At price P2, the firm would
A) lose an amount more than fixed cost. B) break even. C) lose an amount less than fixed cost. D) lose an amount equal to its fixed cost.
If the demand for steak increases as income increases, then steak is a(n):
A. normal good. B. substitute good. C. inferior good. D. complementary good.
Which of the following is true if equilibrium is present in a market?
a. Quantity demanded equals quantity supplied. b. Quantity supplied exceeds quantity demanded. c. There is generally either a shortage or a surplus. d. Quantity demanded exceeds quantity supplied.
The economy characterized by the data is:
A. experiencing inflation because disposable income exceeds personal income.
B. experiencing declining production capacity because net investment is negative.
C. in a depression because personal income exceeds disposable income.
D. experiencing expanding production capacity because net private domestic investment is
positive.