A firm manager is an agent hired by the:
A. owner to control the production process.
B. workers to control the production process.
C. owner to oversee the workers.
D. workers to consult with the owner.
Answer: A
You might also like to view...
The price of a Treasury bond futures contract is set
A) by the federal government. B) by the Chicago Board of Trade. C) by the Federal Reserve. D) as a result of bidding and offering by market participants.
In an auction where the bidders values are $740, $700, $660, $650, $400, $325 and $300, the highest three bidders decide to form a bid-rigging cartel. What would the winning bid be in this auction?
a. $741 b. $701 c. $651 d. $631
The annual rental rate for a machine is
a. the yearly depreciation and maintenance costs for the machine. b. the yearly interest costs associated with owning the machine. c. the initial purchase price of the machine divided by the number of years the machine is expected to last. d. the sum of the yearly depreciation, maintenance, and interest costs associated with owning the machine.
What famous economist said, "By pursuing his own interest he (an individual) frequently promotes that of the society more effectually than when he really intends to promote it?"
a. Alfred Marshall. b. Adam Smith. c. Karl Marx. d. Robert L. Heilbroner.