Which Two Famous Economists Hypothesized That People Would Adapt Their

question 80

Multiple Choice

Which two famous economists hypothesized that people would adapt their expectations about inflation to something consistent with their prior experience?

• A) Ben Bernanke and Alan Greenspan
• B) Milton Friedman and Edmund Phelps
• C) Adam Smith and David Ricardo
• D) John Maynard Keynes and F.A.Hayek
• E) Irving Fisher and Adam Smith

Explain the concepts of job specialization, coordination, standardization, and formalization in organizational design.

Describe the conditions under which a matrix structure is effective and its potential for conflict.

Understand the role of organizational strategy in designing organizational structures.

Differentiate between organic and mechanistic structures and explain their appropriateness in different environments.

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Definitions:

Genetic Explanations

Theories or reasons that attribute certain traits or behaviors to variations in an individual's DNA.

Social Explanations

Theories or reasoning that account for behaviors, phenomena, or events based on social factors and contexts.

White-Collar Crime

Non-violent criminal activities committed by individuals, typically during the course of their profession, involving deceit, fraud, or breach of trust.

Privileged Deviance

Deviant acts committed by individuals of higher social status, which often go unpunished or are treated leniently due to their position.