Question;1.The example of Enron shows that: (Points: 1) selection of people is the key to organizational success or failure.large incentives are the keys to getting people moving in a corporation.business success is possible in a regulatory environment.organizational structure is extremely important in business success.Question 2.2.If the technology, the nature of competition, or the regulatory environment changes in an industry, then: (Points: 1) the appropriate organizational architecture will change too.a good organizational architecture is always able to cope with changes.organizational architecture is able to restore the former market environment.organizations are created by random events, just like markets.Question 3.3.Economics provides a theory to explain: (Points: 1) how a successful business can be started.how managers can cheat and get away with it.how people make choices.how to compete in the market.Question 4.4.Benchmarking means: (Points: 1) blind copying.copying from the best so as to become better.looking at yourself and telling others what to do.looking at yourself and telling yourself you are the greatest.Question 5.5.A risk-averse agent: (Points: 1) only cares about expected payoff.always prefers a certain payoff to a risky one.only cares about the variability of a payoff.cares about expected payoff, as well as the variability of a payoff.Question 6.6.If employees conform to the economist's view of behavior, managers will be most effective if they can: (Points: 1) influence the costs and benefits of employee actions.improve employee satisfaction with the job.communicate goals and objectives effectively to their employees.fire bad employees.Question 7.7.Marginal utility is the: (Points: 1) total happiness obtained from a consumption bundle.additional utility obtained by lowering the price of a good.additional utility obtained by consuming one additional unit.total amount spent to purchase one additional unit.Question 8.8.Assume the market for ceiling fans is perfectly competitive and currently in equilibrium. If the demand increases while the supply decreases, then: (Points: 1) we can be certain the equilibrium price will increase.we can be certain the equilibrium quantity will increase.both price and quantity will increase.both price and quantity will decrease.Question 9.9.Assume the government introduces a $0.50 per gallon tax on gasoline. Which of the following is true? (Points: 1) The quantity of subway and bus tickets sold is likely to increase.The quantity of cars sold is likely to increase.The quantity of gasoline sold is likely to increase.The quantity supplied by producers will decrease.Question 10.10.According to Ronald Coase, for a free-market economy to work efficiently, there needs to be: (Points: 1) a well-developed tax code.an allocation of private property rights with high transactions costs.an allocation of private property rights with low transactions costs.a low cost of malpractice insurance.Question 11.11.Based on the following diagram if there was a $3.00 price floor: (Points: 1) the quantity demanded would be 65.the quantity demanded would be 30.there would be a shortage of 30.there would be a surplus of 30.Question 12.12.Assume D1 represents the current demand curve for skis. Which of the following would be likely to cause D1 to shift to D2? (Points: 1) An increase in the price of snowboards.An increase in the price of ski boots and clothing.A decrease in the price of skis.An increase in the price of skis.
Paper#57126 | Written in 18-Jul-2015Price : $19