FIGURE 23-3 Refer to Figure 23-3

question 11

Multiple Choice

FIGURE 23-3 Refer to Figure 23-3.Which of the following statements best describes the supply side of Economy B?

• A)Unit costs are rising rapidly,but firms can produce more output by employing standby capacity and overtime labour,for example,with no increase in the price level.
• B)Firms are producing well below their capacity and are willing to produce more only if prices rise.
• C)Unit costs are rising rapidly as firms are producing beyond their capacity.Firms will produce more only if prices increase.
• D)Firms are producing well below their capacity and are willing to produce more output with no increase in price.
• E)Firms are not able to produce more output because there is no excess capacity in the economy.

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Definitions:

Initiating Structure

A leadership behavior that focuses on defining roles, setting goals, and organizing work tasks to achieve objectives efficiently.

Participative Style

A leadership approach involving employees in decision-making processes, increasing engagement and ownership among team members.

Leadership Styles

Various approaches and methods employed by leaders to guide, influence, and manage groups of people or organizations.

Sharing Power

The distribution of power among multiple individuals or groups, especially in decision-making contexts.