Which is most clearly a variable cost?
A. Rent
B. Wages of Production Workers
C. Salaries of employees under long-term contract
D. Interest payments
B. Wages of Production Workers
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A dynamic decision is one that
A) is made very quickly. B) involves only the present. C) involves only the future. D) involves planning over more than one time period.
Under Samuel Gompers, the highly successful American Federation of Labor (AFL) restricted its membership to craftsmen, required members to pay high dues and garnered votes and campaign contributions for politicians supporting the labor movement
Indicate whether the statement is true or false
A disadvantage associated with grouping jobs on the basis of functional specialty is that
A. managers tend to ignore the interdependencies among units that might lower a firm's value. B. managers rely on implicit understanding and informal relationships. C. employees have to seek ratification from managers for initiation and implementation of decisions. D. employees concentrate more on achieving departmental goals rather than customer satisfaction.
Compare and contrast the "life cycle" hypothesis and the "permanent income" hypothesis. What are their respective implications for inequality in the income distribution?