Gaming refers to a situation where:
A. employees increase output to gain commissions beyond the firm's capacity.
B. employees consistently understate the target levels in order to meet them.
C. employers fix unachievable output and target levels.
D. employees inappropriately increase output to gain commissions.
Answer: D
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The above figure shows the costs at Barney's Bagel Bakery. For which of the following levels of output does the average product of labor exceed the marginal product of labor?
A) at 1000 bagels daily B) at 2000 bagels daily C) at 3000 bagels daily D) all of the above
An example of a capital resource is: a. stock in a computer software company
b. a bond issued by a company selling electric generators. c. a dump truck. d. an employee of a moving company.
When the Fed lowers the legal reserve requirement, the money supply contracts
Indicate whether the statement is true or false
Which of the following is the best definition of openness?
a. The average of imports expressed as a share of GDP. b. The average of goods traded in markets expressed as a share of GDP. c. The average of imports and exports expressed as a share of GDP. d. The average trade balance expressed as a share of GDP. e. The average of exports expressed as a share of GDP.