Which of the following is FALSE about firms organized along functional lines?
a. Workers develop functional expertise
b. Workers find it difficult to share information within their division
c. They foster the exploitation of economies of scale
d. None of the above
b
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The perfectly competitive firm:
A) makes its profit-maximizing decision only on the basis of output. B) faces a downward-sloping demand function. C) can influence market price only in a downward direction. D) cannot earn any economic profits because it faces a horizontal demand curve.
The portfolios of property and casualty insurance companies are generally concentrated in
A) liquid assets. B) mutual funds. C) primary securities. D) U.S. Treasury bonds.
If foreign interest rates are high relative to those in the U.S. demand for dollars will:
A. decrease as investors sell their dollars to buy foreign currency for investment abroad. B. increase as investors sell their currency to buy dollars for investment. C. decrease as investors sell their currency to buy dollars for investment. D. increase as investors sell their dollars to buy foreign currency for investment.
________: the absence of direct or indirect government intervention to alter market prices and quantities
Fill in the blank(s) with correct word