Network organizations depend upon
A. decentralization of operating decisions to the business-unit level.
B. work groups and specific projects without any formal lines of authority.
C. formal lines of authority.
D. intersecting lines of authority.
Answer: B
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The ________ in employment during a recession is smaller if wages are ________
A) increase; flexible B) decline; rigid C) increase; rigid D) decline; flexible
Which of the following statements is true?
A) Production in a perfectly competitive market is efficient because resources in the market leave those sectors in which price cannot cover their costs of production and enter those sectors where price can cover their costs of production. B) Production in a perfectly competitive market is suboptimal because absence of free entry and exit of firms allows firms to specialize in only one particular industry. C) Production in a perfectly competitive market is Pareto inefficient because the government or a central planner carefully analyzes the needs and requirements of the society and instructs firms on what to produce and in what quantity. D) Production in a perfectly competitive market is Pareto efficient because the government or a central planner carefully analyzes the needs and requirements of the society and instructs firms on what to produce and in what quantity.
When the price of yen in terms of dollars increases, Honda automobiles from Japan become cheaper to U.S. residents.
Answer the following statement true (T) or false (F)
Blossom, Inc. sells 500 bottles of perfume a month when the price is $7. A huge increase in resource costs forces Blossom to raise price to $9, and the firm only manages to sell 460 bottles of perfume. The price elasticity of demand is:
A. 0.33 and elastic B. 3.0 and elastic C. 0.33 and inelastic D. 3.0 and inelastic