In a call center, which of the following situations can be considered as a variable input in the short run?
A) the level of computer software being utilized
B) the number of call center representatives on duty at the center
C) the number of call center managers or supervisors
D) the size (e.g., square footage) of the call center
B
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_____ is the understanding that perfect information is not likely to be available, and that as a result, people make decisions that in hindsight look irrational, but in reality are the rational results of a brain that is economizing
a. Reasoning b. Parametric determinism c. Rational ignorance d. Bounded rationality e. Dynamic inconsistency
An example of a perfectly competitive market would be the market for
a. electricity. b. soybeans. c. coffee shops. d. restaurants.
GDP is used as the basic measure of a society's economic well-being. A better measure of the economic well-being of individuals in society is
a. saving per person. b. GDP per person. c. government expenditures per person. d. investment per business firm.
Special-interest groups engage in rent seeking to the extent, that they shift resources from productive endeavors to activities that transfer income to their special interests
Indicate whether the statement is true or false