Basic principles that comprise good management include:
A. understanding incentives.
B. identifying goals and constraints.
C. recognizing the nature and importance of profits.
D. All of the statements associated with this question are correct.
Answer: D
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What is the budget surplus if the total amount of taxes collected by a local government is $171,000 and the total amount spent is $90,000?
A) $81,000 B) $100,000 C) $70,000 D) $262,000
Refer to Figure 26-12. In the dynamic AD-AS model, if the economy is at point A in year 1 and is expected to go to point B in year 2, and the Federal Reserve pursues no policy, then at point B
A) the unemployment rate is greater than the natural rate of unemployment. B) incomes and profits are falling. C) there is pressure on wages and prices to fall. D) firms are producing above capacity.
Which of the following games might a risk-averse person play?
a. a game where she has a 50 percent chance of winning $1 and a 50 percent chance of losing $1 b. a game where she has a 50 percent chance of winning $100 and a 50 percent chance of losing $100 c. a game where she has a 60 percent chance of winning $1 and a 40 percent chance of losing $1 d. a game where she has a 40 percent chance of winning $1 and a 60 percent chance of losing $1
The __________ serve to allocate financial resources among households and firms requiring funds.
Fill in the blank(s) with the appropriate word(s).