Economists generally define the short run as being
A) that period of time in which at least one of the firm's inputs, usually plant size, is fixed.
B) that period of time in which all inputs are variable.
C) any period of time less than one year.
D) any period of time less than six months.
Answer: A
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Sue consumes only sub sandwiches and Mountain Dew. Subs and Mountain Dew are complements. If the price of a sub sandwiches increases
A) Sue will move upward along her demand curve for subs. B) Sue will move downward along her demand curve for subs. C) Sue's demand curve for subs will shift leftward. D) Sue's demand curve for subs will shift rightward.
When the domestic currency strengthens under a fixed exchange-rate system, this is called
A) a depreciation. B) an appreciation. C) a devaluation. D) a revaluation.
Banking failures result when
(a) banks do not hold 100 percent of their customers' deposits in their vaults. (b) banks make loans. (c) bank withdrawals exceed their reserves. (d) all of the above occur.
As the level of real interest rates rise, the amount of new investment will rise also
a. True b. False Indicate whether the statement is true or false