A disadvantage of team production compared to contracting out is that
a. transaction costs are often higher with team production.
b. the level of specialized knowledge required by team production is greater than with contracting out.
c. the problem of shirking must be more carefully addressed with team production.
d. team production increases the cost of production in most situations.
C
Economics
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In the 1980s and most of the 1990s, the federal government
A) ran small deficits. B) ran small surpluses. C) ran large deficits. D) was balanced.
Economics
Refer to Figure 16-1. Suppose the economy is in a recession and expansionary fiscal policy is pursued. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) B to A. B) C to B. C) B to C. D) A to B. E) A to E.
Economics