During the short run:
A. All inputs can be changed.
B. Some inputs are fixed.
C. Factory size can be changed.
D. The number of workers cannot be changed.
Answer: B. Some inputs are fixed.
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Which of the following determines comparable worth of a particular job?
a. Cultural background of the applicants b. Gender of the candidates applying for a job c. Race of the applicants for the job d. Level of formal education required for a job e. National origin of the workers in a factory
Workers determine the supply of labor, and firms determine the demand for labor
a. True b. False Indicate whether the statement is true or false
The standard economists use to assess whether an activity should be undertaken is
a. majority vote
b. the marginal benefit assessment.
c. the gold standard
d. economic efficiency.
Which of the following macroeconomic variables would be drawn accurately as perfectly inelastic?
A. Aggregate demand B. Long-run aggregate supply C. Short-run aggregate supply D. None of these should be drawn as perfectly inelastic.