In the 1990s, business organizations were
A) flattened.
B) turned inside out.
C) formed into horizontal structures.
D) all of these choices.
A
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When the federal government orders firms to use particular methods to reduce pollution, it is said to be using
A) market-based policies. B) global initiatives. C) strong-arm tactics. D) command-and-control policies.
Suppose you place $10,000 in a retirement fund that earns a nominal interest rate of 8 percent. If you expect inflation to be 5 percent or lower, then you are expecting to earn a real interest rate of at least:
A. 1.6 percent. B. 3 percent. C. 4 percent. D. 5 percent.
The real-balance effect indicates that at higher price levels
A. the value of the dollar will increase. B. the purchasing power of money will increase. C. the real value of money holdings increase, resulting in increased saving. D. the real value of money holdings fall, resulting in decreased spending.
Answer the following questions true (T) or false (F)
1. If a firm in a perfectly competitive industry introduces a lower-cost way of producing an existing product, the firm will be able to earn economic profits in the long run. 2. Firms in perfect competition produce the productively efficient output level in the short run and in the long run. 3. Firms in perfect competition produce the allocatively efficient output in the short run and in the long run.