The issue with centralized versus decentralized decision making is that
A. it is always easy to find out which is better, but not all may agree.
B. centralization is always better because one person controls all information.
C. decentralization is always better because many people can split the tasks.
D. it is difficult to find out whether one is better than the other in the hierarchy.
Answer: D
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Which of the following is not a limitation to monetary policy? a. The fact that fiscal policy is sometimes at odds with monetary
b. The world has become global in all markets including financial markets, and the Fed does not have control over international banks or non-member banks. c. Because the Federal Reserve System is made up of twelve branches, it is essentially very difficult to get a decision enacted by the Board of Governors. d. Monetary policy has to be carried out through the commercial banking system.
Explain how the demand for labor is determined