Which of the following addresses agency costs?
a. advertising for employee positions in as many outlets as possible
b. requiring employees to punch time clocks
c. instituting longer work days
d. reducing the number of holidays
b
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If Taco Bell decides to produce more tacos and fewer burritos, Taco Bell is answering the ________ part of one of the two big economic questions
A) "what" B) "why" C) "when" D) "scarcity"
_____ _____ theory applies economic principles to public sector decision making
Fill in the blank(s) with the appropriate word(s).
The concept of opportunity cost describes:
(a) The lost benefits that result from a decision taken by a consumer; (b) The lost benefits of the next best alternative to the decision taken; (c) The cost in interest to acquire the funds needed to make a decision; (d) None of the above.
In Figure 1.9, the slope of the line between points L and M is
A. 1.20. B. 0.75. C. 0.80. D. 0.67.