Why is academic decision making different from decision making within firms?
What will be an ideal response?
Most academic discussions are conducted in seminar rooms, classrooms and are reduced to exercises in power-point. Academic discussions center on evaluating, comparing, contrasting and modeling alternative scenarios to rank the various policies in some objective order. Academic perspectives are important albeit limited. The day-to-day ongoings in a company with its complex organizational politics are hard realities that cannot be easily modeled.
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If wages are "sticky", a decline in the price level will
A) raise the real wage and lower the quantity demanded of labor. B) lower the real wage and lower the quantity supplied of labor. C) raise the real wage and lower the quantity supplied of labor. D) a and b E) none of the above
Other things equal, the interest rate on a loan will be smaller:
A. The greater the risk involved B. The smaller the amount of the loan C. The longer the length of the loan D. If the loan interest is exempt from taxation