A firm wants to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain a marketing manager's permission to reduce price below a specific threshold. This solution would only work if
a. The marketing manager has no information about the matter at hand
b. The marketing manager can only get all the information on the case from the sales agent
c. Enough unbiased information is transferred to the manager to prevent an unprofitable price reduction
d. All of the above
c
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What is one specific economic situation that a balanced budget amendment would create?
A) It would prevent deficits during peacetime. B) It would curtail inflation. C) It would forbid budget surpluses. D) It would prevent a recession.
The long boom ended in
A) 1999. B) 2001. C) 2008. D) 2012.
Entry into a competitive market will continue until
A) economic profits are zero. B) normal profits are zero. C) when accounting losses are zero. D) a. and b. are true
The focal point of the Bretton Woods system was the:
a. Great Britain pound. b. institution of special drawing rights. c. U.S. dollar. d. gold reserve. e. management of commodity money.