As Relative Prices in Various Industries Change Due to

question 30

Multiple Choice

As relative prices in various industries change due to
Trade, the marginal product of fixed resources used in
The expanding industry __________, and the marginal
Product of fixed resources used in the contracting
Industry __________.

• A)rises; falls
• B)remains the same; remains the same
• C)changes by exactly the same percentage; changes by exactly the same percentage
• D)falls; rises

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Definitions:

Leadership Styles

Describes the various approaches and methods leaders use to motivate, guide, and manage teams or organizations.

Classic Styles

Traditional or longstanding approaches or designs that have withstood the test of time in various fields such as fashion, architecture, or literature.

Fiedler's Contingency Theory

A leadership model proposing that effective leadership depends on the match between a leader's style of interacting with subordinates and the degree to which the situation gives control and influence to the leader.

Task-motivated Leaders

Leaders who focus primarily on accomplishing specific goals and tasks and organizing work and teams efficiently to achieve such objectives.