The army is more likely than a business firm to assign a highly-skilled person to a job requiring little skill because the people who assign military personnel
A) are generally guided by the public interest rather than private interest.
B) incur little cost from misallocating personnel.
C) must consider the welfare of the whole rather than the profitability of the enterprise.
D) work for the government, where there is less demand for skilled personnel.
B
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The amount of cost cutting technical innovation introduced into a production process is a function of:
A) technology only. B) technology and consumer acceptance. C) consumer acceptance only. D) none of the above.
If the price level is fixed, then an increase in government spending will lead to
A) a larger increase in nominal GDP than in real GDP. B) a smaller increase in nominal GDP than in real GDP. C) no increase in either nominal GDP or real GDP. D) an increase in nominal GDP by the same amount as an increase in real GDP.