In the case of team decision making, the size of the team is optimal when
A. there are five members in the team.
B. the additional cost of adding a new member equals the incremental benefits.
C. the number of team members exceeds 10.
D. the additional cost of adding a new member is less than the incremental benefits.
Answer: B
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If the Central Bank of Macroland puts an additional 1,000 dollars of currency into the economy, the public deposits all currency into the banking system, and banks have a desired reserve/deposit ratio of 0.10, then the banks will eventually make new loans totaling ________ and the money supply will increase by ________.
A. $9,000; $9,000 B. $9,000; $10,000 C. $1,000; $1,000 D. $1,000; $9,000
The long-run aggregate supply curve shows the
A) maximum GDP the nation will ever produce. B) full-employment level of real GDP. C) level of real GDP associated with a constant price level. D) level of output at which real GDP equals nominal GDP.
For a theme park a two-tier tariff can include a positive admission price and a zero per-ride fee
What will be an ideal response?
In the tourist-trap model, a consumer might pay more than marginal cost for a good sold in a competitive market if the cost of possibly finding the good cheaper is more than the markup over marginal cost
Indicate whether the statement is true or false