Basic Microeconomics TestBank
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The theory of the market for
... [Show More] corporate control was first put forward by ProfessorDavid Macherof the Washington University Law School in 1965.
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Manufacturers own the factors of production and consume all the goods and services that the firms produce.
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The characteristic by which goods are specified is that they have value that is purchasing power over each other for which the list of goods is quite specific.
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This Microeconomics may be used as a tool to aid in the decision making process.
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The only part of the theory of value which treats of the short period, in which the technological stock of capital equipment is given, has any application.
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Adam Smith is the famous seventeenth century scientist and mathematician allegedly became intrigued one day when he saw an apple fall from an apple tree.
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is a positive because profits are positive though at the same time the cost and difficulty of obtaining finance play a part in keeping productive equipment scarce and so contribute to maintaining the level of profits.
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a. Clarke-Groves mechanism
b. Grossmann and Hart
c. Interest
d. Neo-classical economist
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Egoistic Hedonism was defined by Sidgwick as the system that fixes as the reasonable ultimate end of each individual's action his own greatest happiness.
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The theory of consumer choice examines the tradeoffs that people face in their role as Producers.
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Firms produce goods and services using inputs, such as labor, land, and capital (buildings and machines).
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The comparative advantage production of a good is if the individual can produce more than the other individuals.
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Oikonomiks is a studied human activities involved with "wealth-getting" which could be unnatural as well as natural.
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Question 22
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Walras and Pareto started from observed disequilibrium and through a process of adjustments, they approached general equilibrium.
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John Stuart Mill is an English philosopher who laid the foundation for British Utilitarian microeconomics in his Introduction to the Principles of Morals and Legislation.
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Entrepreneurial ability refers to the ability to organize and bear risks.
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Rectangular-flow diagram represents the flows of goods and services between households and firms.
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Total utility of society was simply the sum of the individual utilities which focuses the analysis on the .
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a. Homogeneity
b. Welfare
c. Transitionary
d. Individual
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Internal control mechanisms of corporate governance is mainly reflected in the market for corporate control and especially in contention for control rights.
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The classical economist thinks of a position of equilibrium as a position towards which an economy is tending to move as time goes by.
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Keynes had diagnosed the Great Depression of the 1930s as a failure of aggregate demand. Select one:
True False
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International market is taken into account where the demand for a product includes both domestic and foreign demand.
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Mechanisms of restraint in corporate control can be examined with regard to internal and external mechanisms wherein internal control mechanisms are also known as the company's internal governance structure.
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Hall and Hitchsummarize what they found in their results that the intersection between the official lie and the private truth has created unstable welfare systems.
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An outcome is said to be efficient if the economy is getting all it can from the it has available.
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a. Formal organizations
b. Income
c. Scarce resources
d. Economy
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Lenism developed the party as an organization with the totalitarian vocation of abolishing informal social networks and mobilizing the population into party-led formal organizations covering every sphere of social life.
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China transactions in enterprise control rights began in 1984 in such cities as Baoding and Beijing.
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The production possibilities frontier simplifies a complex to highlight and clarifies some basic ideas.
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a. Economy
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