Question 1

The ______ model suggests that that the productivity of employees in a firm will increase if the firm offers lifetime employment and a high salary.

Accepted Answer

A) only-money-matters 
B) happy-is-productive 
C) product-of-the-environment 
D) good-citizen 
A) only-money-matters 
B) happy-is-productive 
C) product-of-the-environment 
D) good-citizen

Question 2

What is the relationship between the slope of the budget line and the notion of opportunity cost?

Accepted Answer

The slope of the budget line represents

Question 3

Suppose a family's budget line is such that the horizontal axis shows the amount of food consumed,while the vertical axis measures the consumption of all other goods.Suppose this family receives food stamps.This will cause the budget line to

Accepted Answer

A) rotate leftward along the vertical axis. 
B) pivot along the horizontal axis. 
C) shift rightward along the horizontal axis. 
D) shift leftward. 
A) rotate leftward along the vertical axis. 
B) pivot along the horizontal axis. 
C) shift rightward along the horizontal axis. 
D) shift leftward.

Question 4

Robinson pays $100 for tickets to see his favorite sports team play.With 10 minutes left in the game,his team is losing heavily and has no chance of winning the game.Robinson chooses to stay until the end of the game because he wants to get the full value for his admission price.As an economist,you should advise Robinson to

Accepted Answer

A) stay until the end of the game as his intuition is correct. 
B) stay until the end of the game as he might be heckled on the way out. 
C) leave the game if his marginal benefit of leaving is greater than marginal cost,as the admission price is a sunk cost. 
D) leave the game now as the line to exit the stadium is shorter now. 
A) stay until the end of the game as his intuition is correct. 
B) stay until the end of the game as he might be heckled on the way out. 
C) leave the game if his marginal benefit of leaving is greater than marginal cost,as the admission price is a sunk cost. 
D) leave the game now as the line to exit the stadium is shorter now.

Question 5

Jim Range has to choose between buying more soda or more pasta for the week.He has a fixed income and he knows the prices of both products.Using indifference curves and budget constraints,illustrate the amount of soda and pasta that Jim will purchase.When he gets to the store,he finds that the price of soda has fallen dramatically.How does this change his optimal purchase? Can a general rule of human behavior be developed from this graphical example?

Accepted Answer

If quantity of soda is measured along th

The ______ model suggests that that the productivity of employees in a firm will increase if the firm offers lifetime employment and a high salary.

What is the relationship between the slope of the budget line and the notion of opportunity cost?

Suppose a family's budget line is such that the horizontal axis shows the amount of food consumed,while the vertical axis measures the consumption of all other goods.Suppose this family receives food stamps.This will cause the budget line to

Introduction

Exchange and Markets

Demand

Production and Cost

Market Structure

Pricing With Market Power

Economics of Strategy: Creating and Capturing Value

Economics of Strategy: Game Theory

Incentive Conflicts and Contracts

Organizational Architecture

Decision Rights: the Level of Empowerment

Decision Rights: Bundling Tasks Into Jobs and Subunits

Attracting and Retaining Qualified Employees

Incentive Compensation

Individual Performance Evaluation

Divisional Performance Evaluation

Corporate Governance

Vertical Integration and Outsourcing

Leadership: Motivating Change Within Organizations

Understanding the Business Environment: the Economics of Regulation

Ethics and Organizational Architecture

Organizational Architecture and the Process of Management Innovation

Filters

Exam 2: Economists View of Behavior

The ______ model suggests that that the productivity of employees in a firm will increase if the firm offers lifetime employment and a high salary.

What is the relationship between the slope of the budget line and the notion of opportunity cost?

Suppose a family's budget line is such that the horizontal axis shows the amount of food consumed,while the vertical axis measures the consumption of all other goods.Suppose this family receives food stamps.This will cause the budget line to

Introduction

Exchange and Markets

Demand

Production and Cost

Market Structure

Pricing With Market Power

Economics of Strategy: Creating and Capturing Value

Economics of Strategy: Game Theory

Incentive Conflicts and Contracts

Organizational Architecture

Decision Rights: the Level of Empowerment

Decision Rights: Bundling Tasks Into Jobs and Subunits

Attracting and Retaining Qualified Employees

Incentive Compensation

Individual Performance Evaluation

Divisional Performance Evaluation

Corporate Governance

Vertical Integration and Outsourcing

Leadership: Motivating Change Within Organizations

Understanding the Business Environment: the Economics of Regulation

Ethics and Organizational Architecture

Organizational Architecture and the Process of Management Innovation

Filters