Mr. Greengene grows corn on the land he rents from Lauren, initially at a price of $500 per hectare. Suppose Mr. Greengene develops a new method for growing corn that decreases the growing cost by $300 per hectare. Lauren rejoices, citing the leftover principle as she counts on collecting $800 in rent instead of $500.

a. Greengene's rent will increase by $300 per hectare if:
b. Greengene's rent will be unchanged if:

If the government is required to balance the budget and the economy falls into a recession, which of the actions is a feasible policy response? cut taxes to encourage consumer spending invest in infrastructure increase government spending to stimulate the economy cut spending equal to the reduction in tax revenue what is a likely consequence of this policy? unemployment falls due to the economic stimulus. the negative consequences of the recession are magnified. consumer spending increases due to their ability to keep more of their after-tax income. there is hyperinflation due to an increase in aggregate demand.

Is exploiting a distinctive competence or improving efficiency for competitive advantage. (a) cooptation (b) coalition (c) competitive intelligence (d) competitive aggression (e) smoothing

Labor unions have used which of the following to win passage of favorable laws such as shorter work weeks and the minimum wage? a. strikes b. collective bargaining c. lobbying d. lockouts