If managers do not choose to maximize profit, but pursue some other goal such as revenue maximization or growth,
A) they are more likely to become takeover targets of profit-maximizing firms.
B) they are less likely to be replaced by stockholders.
C) they are less likely to be replaced by the board of directors.
D) they are more likely to have higher profit than if they had pursued that policy explicitly.
E) their companies are more likely to survive in the long run.
A
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A chain saw is an example of which of the following factors of production?
a. Land. b. Labor. c. Capital. d. None of these.
A fact based on observable phenomenon that is not influenced by differences in personal opinion is called
a. an objective concept. b. a subjective concept. c. an unintended consequence. d. ceteris paribus.
In the basic Keynesian model, a decrease in transfer payments:
A. increases potential output. B. reduces potential output. C. reduces short-run equilibrium output. D. increases short-run equilibrium output.
Government can push the unemployment rate below the natural rate only by:
A. instituting supply-side economic policies. B. producing a higher rate of inflation than people expect. C. balancing the federal budget. D. achieving zero inflation.