Opportunity cost is
A. What is given up in order to get something else.
B. Measured only in dollars and cents.
C. The total dollar cost to society of producing the goods.
D. The difficulty associated with using one good in place of another.
Answer: A
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Which of the following statements is true about information transfer within an organization?
a. More information is always better. b. People at higher levels cannot add to the quality of a decision when an employee lower in the order has all the information and is able to take the decision on his/her own. c. Decision relating to a particular department in an organization usually depends only on the information provided from that department. d. Optimal amount of information removes the risk of errors in decision-making.
When unemployment rises above the natural rate it reflects the existence of ____ unemployment
a. frictional b. structural c. seasonal d. cyclical
Contractionary fiscal policy will lead to a(n)
A) decrease in the supply of dollars in the foreign exchange market. B) fall in interest rates. C) increase in the demand for dollars in the foreign exchange market. D) reduction in exports.
Nondiscriminatory firms hiring in the market place have a cost advantage.
Answer the following statement true (T) or false (F)