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A- What would likely be indicative of an unstable multiparty system?
a. the existence of between 4 and 7 viable parties
b. low voter turnout
c. frequent need for the formation of coalitions
d. one party holding a clear majority in parliament
B-Which of the following "isms" is committed to a significant reduction in economic inequalities, but not total economic equality?
a. socialism
b. fascism
c. communism
d. corporatism
Sensotech, Inc., a maker of microelectromechanical systems, believes it can reduce product recalls by 10% if it purchases new software for detecting faulty parts. The cost of the new software is $325,000. Identify the engineering economic symbols inv..
Suppose the inverse demand for an industry was given by P = 60 - 0.03Q. What price results from perfect competition in this market? How many units are sold in this market?
Find out the Nash equilibrium prices of the procedures at the hospitals. Do the merger result in price increases.
Review the section on Asch's Research from your textbook. Describe why the individuals in the Asch experiment usually gave the same answer when they probably knew that it was wrong. How do social control and social bonding explain conformity?
In order to show that perfectly competitive markets are efficient, economists assume that such markets are characterized by “perfect information.” How can imperfect information create inefficiency in what would otherwise be a competitive market?
As we observed in this chapter, central banks, rather than purposefully setting the level of the money supply, usually set a target level for a short-term interest rate by standing ready to lend or borrow whatever money people wish to hold at that in..
Define power from an organizational behavior perspective. What is the difference between power and influence? What are the six forms of position power and the four forms of personal power? Briefly describe each form. What is leadership and how does i..
A normally distributed variable has a mean of 100 and a standard deviation of 10. The tolerance interval that captures 90 percent of all the measurements around the mean goes from where to where?
Explain four problems with the argument that trade protection is needed to protect American jobs. b) Describe the economic reasons why businesses use off shoring.
What were the main challenges facing Washington's administration? What was Hamilton's vision of the new republic? What was George Washington’s greatest achievement as president?
Calculating savings using the goods market equilibrium. Assume a closed economy (NX = 0). Suppose net taxes are $100 billion. Government spending is $125 billion. Investment is $50 billion and consumption is $100 billion. Calculate public savings, pr..
When traveling on vacation recently in a country with a large consumption tax, your textbook author was presented with a deal: pay cash and get a 10% discount. Given that credit card transactions cost the merchant less than 2%, why did the merchant m..
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