Toyota's just-in-time system is an example of
A) backward (upstream) integration.
B) quasi-vertical integration.
C) using transfer pricing to avoid price controls.
D) horizontal, downstream integration.
B
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If an employment situation is characterized by adverse selection, there is an excess supply of underqualified applicants for each job
a. True b. False
An increase in a monopoly's fixed costs would cause its output to
a. rise. b. fall. c. stay the same. d. impossible to predict.
Suppose that only one curve shifts. If you observe that the equilibrium price increased while the equilibrium quantity decreased, then the market experienced a(n):
A. decrease in supply. B. increase in demand. C. increase in supply. D. decrease in demand.
For this question, assume productivity has been increasing by 5% per year. Also assume that workers' expectations of productivity growth adjust slowly over time. For this economy, a reduction in productivity growth from 5% to 2% will most likely cause which of the following to occur?
A) an increase in the natural rate of unemployment B) a reduction in the real wage C) an increase in the markup over labor costs D) all of the above E) none of the above