Which of the following results from unexpected increases in the rate of inflation?
A. Creditors are made better off.
B. Redistributions of income and wealth between different groups.
C. Decreased uncertainty.
D. Increased windfall profits to creditors who have lent large amounts of money.
Answer: B
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You have just been named President and Chief Executive Officer at the StrideRite Shoe Corporation. This appointment places you in the role of ________ to lower managers and ________ to the stockholders
A) principal; principal B) principal; agent C) agent; principal D) agent; agent
Opportunity cost is defined
a. only in terms of money spent b. as the value of all alternatives not chosen c. as the value of the best alternative not chosen d. as the difference between the benefits from a choice and the benefits from the next best alternative e. as the difference between the benefits from a choice and the costs of that choice
A program of countercyclical payments is best classified as a federal
A) Price support program. B) Farm cost subsidy. C) Income support program. D) Acreage set-aside.
The fact that some people are willing to take a pay cut to be able to work from home suggests that:
A. some people get benefits called "psychic income" from working conditions they like. B. when it comes to work, people often are not rational. C. people have no choice but to work at home. D. people are being paid efficiency wages when they aren't working at home.