1. Why is Jo writing to Karl?
(A) To suggest that his management style is not suitable for the current members of his team
(B) To let him know about the issues his team member is facing and help him manage them
(C) To tell him how to solve his problems
(D) To ask him to take it easy on Judy and not give her too much work

2. What is Judy not used to? (A) Being told what to do (B) Collaborating with people internationally (C) Being left to do things on her own (D) Delegating work to other people

3. Why is Judy confused by the changing targets? (A) She feels as if she needs to understand the reason for changes. (B) She has simultaneous deadlines from the Tokyo office. (C) She doesn’t want to know the bigger picture, just her part. (D) She doesn’t like meeting deadlines.

4. Who might benefit from having a better overview of the project and a better understanding of how the individual tasks fit together to achieve the group target? (A) Only Judy (B) Judy and the Tokyo office (C) Judy and Karl (D) Judy and the rest of Karl’s team

5. What does Jo think of Judy? (A) Judy works well independently but isn’t a good team player. (B) Judy is lazy and prefers managers to tell her exactly what to do. (C) Judy is very hard-working and capable and will go far in the company. (D) Judy is very enthusiastic but not very experienced.

1. When two consumers have the same preference, that means (A) They must have the same utility functions. (B) They must have the same marginal utility functions. (C) They must have the same marginal rates of substitution. (D) They must have the same optimal consumption bundles.

2. Which of the following statements is correct? (A) If leisure is a normal good, an income tax will cause workers to work more. (B) If leisure is a normal good, an income tax will cause workers to work less. (C) If leisure is an inferior good, an income tax will cause workers to work more. (D) If leisure is an inferior good, an income tax will cause workers to work less.

3. Which of the following statements is correct? (A) The uncompensated demand curve is always downward sloping. (B) The compensated demand curve is always downward sloping. (C) The uncompensated demand curve for an inferior good is always upward sloping. (D) The compensated demand curve for an inferior good is always upward sloping.

4. Which of the following statements is false? (A) A risk-loving individual's marginal utility of money is positive and increasing. (B) A risk-averse individual's marginal utility of money is positive and decreasing. (C) A risk-neutral individual's marginal utility of money is positive and constant. (D) A risk-averse individual must not buy insurance if the insurance premium is higher than fair insurance.

5. What is true about the lemon car market? (A) The market has the problem of adverse selection. (B) The market will end up with having low-quality used cars only. (C) The owners of high-quality used cars are not willing to sell their cars. (D) All of the above.

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