An example of organizational architecture based on production of intermediate products is when divisions are defined as
a. R&D, Engineering, Production, Marketing, Sales
b. Component 1 Plant, Component 2 Plant, Component 3 Plant, Final Assembly
c. Store 1, Store 2, Store 3, Region A, Region B, Sales Division
d. Business Customers, Educational Customers, Household Customers
b
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According to the interest-rate-based monetary policy transmission mechanism, an increase in the money supply generates
A) increased spending on consumer goods and services directly, which causes an increase in aggregate demand. B) an increase in aggregate supply since the supply of money is part of aggregate supply. C) lower interest rates, which causes an increase in planned real investment spending and an increase in aggregate demand. D) an increase in nominal GDP and a change in the price level, but no change in real GDP.
Elsa is annoyed that it costs her 25 cents to park her car at the city park, which is free to enter. Her friend says _______________, which demonstrates how the government provides public goods.
a. “The city council is lining their own pockets with those quarters.” b. “Those parking fees help keep the park maintained and open for everybody.” c. “The park is free because it doesn’t need any maintenance, but the parking spaces do.” d. “So don’t pay it. What difference does it make?”
Most economists believe the severity and duration of the Great Depression was primarily the result of
a. the large budget deficits of the federal government. b. the reduction in tariffs and the influx of foreign imports during the early 1930s. c. the excessive use of credit cards. d. a sharp contraction in the money supply.
The horizontal summation of the demands of each consumer at different price levels is called:
A. the price elasticity of market demand. B. the market demand curve. C. consumer surplus. D speculative demand.