Question: A manager asks an employee, Should we use our research budget to improve the quality of the products we already make, or to develop new

A manager asks an employee, "Should we use our research budget to improve the quality of the products we already make, or to develop new products?" The manager's question is best classified as whi...

3.What is meant by the statement "Economy beat sentiment and benevolence "? Why do you believe financial incentives were such a powerful force to correct a seemingly impossible problem to solve?

4.Consider a perfectly competitive industry with long-run external diseconomies. When demand increases permanently, the equilibrium price: a) falls and the equilibrium quantity decreases. b) rises an...

5.How is Keynes's position different from the classical position with respect to wages, prices, and Say's law?

6.Capital can be viewed as a buffer against insolvency. How so?

7.What are the contributions of William Baumol in the field of cultural economics?

8.What are the contributions of Bruno Frey in the field of cultural economics?

9.Scarcity arises because: a. international companies are slow to explore for new resources. b. resources are finite and unable to meet all human wants and needs. c. many countries waste goods becaus...

10.What is the relationship between consumptions and productions?

11.Explain the economic principles and associated analytical tools that are most helpful in deeply understanding the changes that are occurring in the strategic context of the IT industry or any indus...

12.If a firm is to achieve technical efficiency, it will: A) produce at minimum efficient scale (MES) B) produce the maximum possible output from a given combination of inputs. C) have to produce a...

13.If an ecosystem provides no direct benefits to humans then it has no value from an economic perspective. A. True B. False

14.State True or False. Economists assume that the goal of consumers is to maximize total utility.

15.Suppose that changing climate conditions results in a shortage of wood. Which of the following is the most likely consequence of this shortage? a. Paper, which is made from wood, would be rendered...

16.The two big economic questions include all of the following except: A) what to produce. B) how to produce. C) for whom to produce. D) why to produce. E) can choices made in the pursuit of self-...

17.Define economics and differentiate the scope of analysis between microeconomics and macroeconomics?

18.Law and Economics are two different disciplines. Both are independent but dependent on each other. Do you agree/not agree? Explain

19.Economics deals with the efficient use of resources? Why?r

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