A Nation with Cheap, Efficient Communications Is Likely to Be

question 145

Multiple Choice

A nation with cheap, efficient communications is likely to be

• A) richer, ceteris paribus, because transaction costs will be lower and trade greater.
• B) richer only if production of goods is cheaper, too, since trade itself cannot create value.
• C) poorer since it spends so much on communication instead of true productivity.
• D) spending too much on communications, which adds nothing to the value of output.

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Definitions:

Virtual Team

A group of individuals who work together from various geographic locations, connected by technology.

Face-to-face Meetings

Meetings in which participants interact directly with each other in the same physical space, allowing for immediate communication and feedback.

Interpersonal Hostilities

Conflicts or antagonisms between individuals, often manifested through negative behaviors or attitudes.

Team Development

The process of improving the effectiveness and cohesiveness of a team through various stages of growth, communication, and conflict resolution.