Managerial economics: Q.11 Which of the following statements is correct? A) Managerial decisions are affected primarily by macroeconomic forces. B) By and large, managerial decisions are not affected by either microeconomic or macroeconomic forces. C) Managerial decisions are affected primarily by microeconomic forces. D) Managerial decisions are affected by both microeconomic and macroeconomic forces. Q.12 An incentive is: A) a constraint that society imposes on those who make self-interested choices. B) the marginal cost of some course of action. C) the marginal benefit of some course of action. D) the net gain of some course of action. E) an inducement to take a particular action Q.13 Which of the following would be considered an example of a macroeconomic problem? A) Should Bank One increase the interest rate it charges its credit card customers? B) Should the federal government extend the eligibility period for unemployment benefits? C) Should Microsoft reduce the price of its Windows operating system? D) Should Mitsubishi eliminate one of its production shifts? Q.14 Which of the following would be considered an example of a microeconomic problem? A) Should federal tax rates be decreased? B) Should General Motors increase the number of cars it is producing each month? C) Should the Federal Reserve increase interest rates? D) Should the North American Free Trade Agreement be expanded to include more countries? Q.15 Which of the following is an example of a sunk cost? A) the electricity purchased by a horse breeder B) The $6,000 Tommy’s insurance company pays him after an accident. C) the $10 being spent on gasoline purchased by a traveling salesperson D) the $100,000 a shoe factory will pay for the leather it uses to make shoes E) After you start watching a movie, the $8 you paid for the ticket Q.16 Economists try to isolate the effect of one variable at a time. They do so by A) looking only at decisions made on the margin. B) holding all other relevant factors the same. C) keeping all variables constant. D) assuming that every economic variable changes simultaneously. E) imagining a real world. Q.17 In making rational choices, which of the following is true? A) We respond to marginal benefits and marginal costs. B) We do not have to account for changes in marginal cost. C) We do not have to account for changes in marginal benefits. D) We have to consider both marginal costs and sunk costs. E) Incentives do not matter. Q.18 Microeconomics applied to business decision making is called: A) managerial economics. B) strategic economics. C) decision-based economics. D) business economics Q.19 The opportunity cost of a decision is measured in terms of A) the price of the alternative we choose. B) sunk cost. C) time. D) the next best thing given up. E) The price of a new opportunity that arises

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1) Arrange an interview with the head of human resources at a local health care organization.

2) Write a report (1,000-1,250 words) on your interview that reviews the organization’s human resources processes. Address the following:

a) Identify which human resources model, or models, the organization matches.

b) Define how well their practices follow the model and how effective they are.

c) Identify the various levels of their organizational structure and how the protocols of human resources management are defined and followed.

d) Examine what effect their human resources processes have on patient care.

e) Identify major human resources challenges the organization has faced and how they were handled.

3) Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

4) This assignment uses a grading rubric. Instructors will be using the rubric to grade the assignment; therefore, students should review the rubric prior to beginning the assignment to become familiar with the assignment criteria and expectations for successful completion of the assignment.

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