One disadvantage of using a tournament is that
A. tournaments are not able to identify the most productive workers.
B. workers who view themselves as losing the tournament will quit providing effort.
C. the winners of tournaments are typically overpaid.
D. tournaments are more expensive than time rates or piece rates.
E. no one will apply for tournament-style jobs.
Answer: B
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If Japanese producers sell computer chips at a higher price in the United States than in Japan, and if there is no cost difference in producing or transporting the chips, the Japanese producers would be practicing
A) cartel pricing. B) price discrimination. C) simple monopoly behavior. D) price sampling.
Bankers' business decisions effect the money supply because bankers
a. are respected men and women. b. have the ability to create money. c. use a special accounting system developed by the Federal Reserve Board. d. All of the above are correct.