Author Question: Which of the following statements about resource allocation is correct? a. Within a firm, resources ... (Read 92 times)

justinmsk · **on:** Jun 30, 2018

Which of the following statements about resource allocation is correct?
a. Within a firm, resources are allocated by prices; in the market, resources are allocated by the decisions of managers.
b. Resources are allocated by prices both in the market and within the firm.
c. Within a firm, resources are allocated by the decisions of managers; in the market, resources are allocated by prices.
d. Resources are allocated by the decisions of managers both within the firm and in the market.
e. In the market, resources are allocated either by prices or by the decisions of managers.

Question 2

Exchange rates
a. are always fixed
b. fluctuate to equate the quantity of foreign exchange demanded with the quantity supplied
c. fluctuate to equate imports and exports
d. fluctuate to equate interest rates in various countries
e. fluctuate according to agreements between the governments of various countries