Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases.
B. initially increases, then decreases.
C. decreases.
D. remains constant.
Answer: A
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All of the following describe the conflict between divisions EXCEPT
a. some activities across divisions benefit from coordination b. managers of profit centers care too little about the effects of their decisions on other divisions c. managers are rewarded only for how well their own division is run d. A divisional manager does not have authority to run her division efficiently
When a researcher evaluates the probability of an event by looking at how representative the sample is of the population of interest instead of the entire population, he is using:
a. an elimination heuristic. b. an availability heuristic. c. a representative heuristic. d. a recognition heuristic.
Figure 4-15
In , suppose a price floor is established at $20.00. What is the result?
a.
a shortage of 10 units
b.
a surplus of 10 units
c.
a shortage of 20 units
d.
a surplus of 20 units
e.
there is no change from the situation that exists at the equilibrium price
Which of the following is not a consequence of hyperinflation?
A) Money's function as a medium of exchange is enhanced. B) Money loses value so rapidly that firms and individuals stop holding it. C) It causes an economy to suffer slow growth. D) The price level grows in excess of hundreds of percentage points per year.