As far as contributions to a professional sports team's bottom line are concerned, players generally receive
a. about what they are worth.
b. about half of what they are worth.
c. about twice what they are worth.
d. about ten times more than what they are worth.
A
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It is possible to have an absolute advantage in producing a good or service without having a comparative advantage
Indicate whether the statement is true or false
A manager may over-research the appropriateness of a decision
a. Because the costs of a false positive are usually larger b. Because the costs of a false negative are usually larger c. Because it is important to be 100% certain before making a decision d. Because managers can face inordinate censure from agreeing to a bad decision
Which of the following is not a function of the Federal Reserve System?
a. limiting the national debt b. setting the required reserve ratio for the deposit holdings of depository institutions c. buying and selling government bonds to control the size and growth rate of the money supply d. controlling inflation
Under the theory of perfect competition, firms and buyers know the availability and prices associated with all products in the market.
Answer the following statement true (T) or false (F)