The fact that many inputs are fixed in the short run but variable in the long run has little impact on the firm's cost curves
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements is correct?
A. Monetarists believe that the economy is inherently unstable. B. Monetarists believe that policy activism is one of the principal causes of economic instability. C. Although monetarists are basically non-interventionist, they are in favor of activist monetary policy. D. Monetarists argue that changes in M1 affect GDP only through changes in interest rates.
When U.S. companies hire workers in India to staff their customer service call centers, they are engaging in
A) predatory pricing. B) unfair trade practices. C) outsourcing. D) labor engagement.
In the desire to have a celebrity's image protected to prevent it from being used in ways he would not approve, a celebrity's estate
A) will probably not be successful, since there are no laws regulating this kind of use in the United States. B) will have to be granted a patent declaring the celebrity's image a new product, and this will give the estate protection for 7 years. C) can rely on U.S. laws that protect intellectual property rights to prevent the unauthorized use of his image. D) will most likely be more successful in developing countries than in high-income countries, since property regulations are better enforced in developing countries.
When the price of coffee decreases 5%, quantity demanded increases 5%. The price elasticity of demand for coffee is ________ and total revenue from coffee sales will ________.
A. elastic; increase B. inelastic; decrease C. unit elastic; not change D. elastic; decrease