21) Using the data in the table above, if the price of a stapler is $8, then there is ________ of staplers and the quantity of staplers demanded ________ the quantity of staplers supplied. A) a surplus; is greater than B) a surplus; is less than C) a shortage; is greater than D) a shortage; is less than E) neither a surplus nor a […]

  18.6   Integrative Questions   1) A characteristic common in both oligopoly and monopolistic competition is A) a small number of firms compete in the market. B) natural or legal barriers prevent the entry of new firms into the market. C) each firm faces a downward-sloping demand curve. D) the firms in the market are interdependent. E) each firm has a large share of the […]

    31.  Consider a society facing the production possibilities curves in the figure shown. What is the most likely cause of a society moving from PPF1 to PPF3? A. More workers B. Better printing press technology C. A desire to read more books D. Better sewing technology 32.  Consider a society facing the production possibilities curves in the figure shown. What is the most likely cause of a […]

    81) The CPI for 2012 was 121 and for 2013 was 132. What was the inflation rate between 2012 and 2013? A) 9.09 percent B) 11 percent C) 10 percent D) 8.3 percent E) 121.0 percent   82) Looking at the annual inflation rates in the United States from 2000 to 2011, we see that they A) were above 10 percent throughout the […]

  Table3-11   AssumethatMaxandMincanswitchbetweenproducingmittensandproducinghatsataconstantrate.     LaborHoursNeededtoMake1 QuantityProducedin36Hours Mittens Hats Mittens Hats Max 2 6 18 6 Min 2 4 18 9 51.RefertoTable3-11.AssumethatMaxandMineachhas36laborhoursavailable.Ifeachpersondivideshis/hertimeequallybetweentheproductionofmittensandhats,thentotalproductionis a.18mittensand6hats. b.18mittensand7.5hats. c.16mittensand12hats. d.36mittensand15hats. 52.RefertoTable3-11.WhichofthefollowingpointswouldnotbeonMax’sproductionpossibilitiesfrontier,basedona36-hourproductionperiod? a.(18mittens,0hats) b.(12mittens,2hats) c.(6mittens,4hats) d.(2mittens,6hats) 53.RefertoTable3-11.WhichofthefollowingpointswouldbeonMin’sproductionpossibilitiesfrontier,basedona36-hourproductionperiod? a.(3mittens,8hats) b.(8mittens,5hat) c.(10mittens,4hats) d.MorethanoneoftheabovewouldbeonMin’sproductionpossibilitiesfrontier. Table3-12   BarbandJimrunabusinessthatsetsupandtestscomputers.AssumethatBarbandJimcanswitchbetweensettingupandtestingcomputersataconstantrate.Thefollowingtableapplies.       MinutesNeededto NumberofComputersSetUporTestedina40-HourWeek SetUp1Computer Test1Computer ComputersSetUp ComputersTested Barb 48 ? 50 40 Jim 30 40 80 60   54.RefertoTable3-12.ThenumberofminutesneededbyBarbtotestacomputeris a.36. b.48. c.60. d.64. […]

  9.3   The Subprime Financial Crisis of 2007-2008   1) Financial innovations that emerged after 2000 in the mortgage markets included all of the following except A) adjustable-rate mortgages. B) subprime mortgages. C) Alt-A mortgages. D) mortgage-backed securities. 2) ________ is a process of bundling together smaller loans (like mortgages) into standard debt securities. A) Securitization B) Origination C) Debt deflation D) Distribution   3) […]

  13.5   Integrative Questions   1) An increase in the price level ________ the aggregate quantity supplied and ________ the aggregate quantity demanded. A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change; decreases 2) The ________, the ________ is the quantity of real GDP supplied and the ________ is the quantity of real GDP demanded. A) lower the […]

  81) The impact of an increase in the price of a particular good is illustrated as a A) leftward shift in its demand curve. B) rightward shift in its demand curve. C) movement upward and to the left along its demand curve. D) movement downward and to the right along its demand curve. E) rightward shift in its demand curve and a movement upward […]

  61) Which of the following is not a characteristic of global strategic alliances? A) Participants maintain independence outside the framework of alliance. B) Participants share benefits as well as control. C) Participants make ongoing contributions in technology, products, and other areas. D) Participants focus on an individual country market. E) Participants share benefits of the alliance. 62) The terminology used to describe the new […]

  92.Which organizational structure actually consists of several organizations?  A.Divisionalizedstructure B.Functional structure C.Simple structure D.Matrix structure E.Network structure 93.The increasing recognition that an organization has only a few core competencies is one of the forces pushing towards more:  A.functional structures. B.simple structures. C.client-baseddivisionalized structures. D.network structures. E.team-based structures. 94.Organizational size, technology, and environment are:  A.three dimensions of span of control. B.three of the four ways […]