The Concept of a Bureaucracy

question 39

Multiple Choice

The concept of a bureaucracy

• A) isn't unique to government.
• B) applies to large corporations and universities.
• C) applies to the U.S. military
• D) applies to any large organization that requires a division of labor.
• E) All of the above are true.

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Definitions:

Strong-Form Efficient

A state of market efficiency where all information, public and private, is accounted for in stock prices.

SML

Security Market Line, a graphical representation that shows the expected return of a security or portfolio as a function of its beta (systematic risk).

Expected Total Return

The sum of income and capital appreciation that an investment is anticipated to earn over a specific period.

Constant

A value that remains unchanged throughout the course of a calculation or process.