Why would an economist say that the Ford Motor Company has never made a choice or a decision?
A) Economists often want to deny the facts.
B) Ford doesn't make choices—only the U.S. automobile industry does.
C) To remind non-economists that individuals within an organization, rather than the organization itself, make choices.
D) Economists are strange creatures who only wish impress others with outrageous or ridiculous claims.
C
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A bank has a reserve requirement of 0.08. If it has demand deposits of $200,000 and is holding $4,000 in reserves:
A. the bank is not meeting its reserve requirement. B. all the bank's reserves are excess reserves. C. the bank is holding $2,000 in excess reserves. D. the bank could extend additional loans and still meet its reserve requirement.
Refer to Figure 34.3. The disincentive to work caused by this welfare program
A. Exists at all income levels. B. Ends as soon as any income is earned. C. Ends at $10,000. D. Ends at $5,000 where benefits equal wages.