A division of a firm is
a. a logical sub-organization of the firm
b. a level within the firm in which a large degree of autonomy is vested
c. a level of hierarchy within a firm that defines the scope of a manager
d. all of the above
a
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There is a positive relationship between two variables if
A) neither variable moves. B) they move in the same direction. C) they move in opposite directions. D) one variable changes and the other does not.
Many borrowers defaulted on subprime mortgages ultimately disrupting financial markets by August 2007. Which of the following is a likely result of this increase in financial frictions?
A) The AD curve likely shifted left which caused a positive inflation gap. B) The AD curve likely shifted right which caused a positive inflation gap. C) The AD curve likely shifted left which caused an upward movement along the MP curve to a higher general equilibrium interest rate. D) The AD curve likely did not shift. E) none of the above
One way to avoid the free rider problem is
A) through mandates. B) for the government to provide the good or service. C) to use social pressure. D) All of the above.
According to economists, although a monopoly's price will be higher than a perfectly competitive firm's price when both produce the same good, the monopoly produces the good more efficiently
Indicate whether the statement is true or false