Fred Powell, the CEO of TruLite, is in a quandary. He wants to bring a new lamp to the market that is based on fuel technology. He just does not understand the technology involved, but he has several engineers who have spent a lot of time investigating the issue. Powell needs to
A. hire outside experts to question his engineers about fuel cells.
B. just make a decision so he can beat the competition in the market.
C. retire and replace himself with an engineer.
D. decentralize decision making to people with specific knowledge.
Answer: D
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Which of the following situations will arise in the domestic market following the imposition of an import quota?
A) imports decrease, domestic production decreases, prices increase B) imports increase, domestic production decreases, prices decrease C) imports decrease, domestic production increases, prices increase D) imports decrease, domestic production increases, prices decrease
Whether real seignorage revenue increases when the rate of money growth increases depends on whether
A) the rise in real money holdings outweighs the decline in inflation. B) the rise in inflation outweighs the decline in real money holdings. C) the rise in inflation ratio outweighs the decline in the real supply of currency. D) the rise in the real supply of currency outweighs the decline in inflation.
A franchisee faces_____ risk than a salaried manager
a. More b. Less c. The same d. None of the above
Nations that cannot participate in international trade (for, say, geographic or political reasons) cannot gain the benefits of
a. economic growth and security b. tariff protection c. specialization in production d. economic independence e. having choice among production possibilities