The three central questions for efficient organizational design include all EXCEPT
a. does the decision maker have the relevant information?
b. is the decision maker in a supervisory role?
c. who is making the decision?
d. does the decision maker have an incentive to make a good decision?
b
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Suppose you place $10,000 in a retirement fund that earns a nominal interest rate of 8 percent. If you expect inflation to be 5 percent or lower, then you are expecting to earn a real interest rate of at least:
a. 1.6 percent. b. 3 percent. c. 4 percent. d. 5 percent.
If aggregate demand in the United States had grown more slowly than it actually did in 2010, the
A. unemployment rate would have been even lower. B. inflation rate would have been even lower. C. unemployment rate would have been the same. D. economy would have grown faster.
Economic profits at the short-run break-even point are
A) positive. B) negative. C) equal to zero. D) indeterminate since they also depend on the size of the fixed costs.
In order to hire additional laborers, a monopsony must
A. raise the wage rate. B. lower the supply of labor. C. advertise for the labor. D. do nothing.