Refer to Scenario 3

question 212

Multiple Choice

Refer to Scenario 3.1 below to answer the question(s) that follow.
SCENARIO 3.1
-Streaming movies and movies shown in theaters are substitutes.
-Streaming movies and OLED TVs are complements.
-OLED TVs and movies shown in theaters are normal goods.
-People watch streaming movies more often in the winter than in the summer.
-Refer to Scenario 3.1. Most OLED TVs sold in the United States are imported from Asia. If the United States government eliminates a quota that reduced the number of OLED TVs that can be imported into the United States, ceteris paribus, what would happen?

• A) The price of OLED TVs and the price of streaming movies would increase.
• B) The price of OLED TVs and the price of streaming movies would decrease.
• C) The price of OLED TVs would decrease and the price of streaming movies would increase.
• D) The price of OLED TVs would increase and the price of streaming movies would decrease.

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Definitions:

Team Support

The encouragement, assistance, and resources provided by group members to each other to achieve collective goals.

Leader's Decision

An authoritative or guiding choice made by a leader that directs or influences the course of action for a group or organization.

Subordinates

Individuals who are lower in rank or position and are typically subject to the direction and control of their superiors.

Vroom-Jago Leadership Model

A decision-making model that helps leaders choose how much involvement their teams and subordinates should have in the decision-making process.