If a farmer buys one-hundred more acres for her flower farm, she is making a
A) long-run decision.
B) short-run decision.
C) immediate-run decision.
D) variable-input decision.
Answer: A
You might also like to view...
Gross investment minus net investment is equal to
A) consumption. B) nominal investment. C) depreciation. D) real investment.
Look at the following data: The structural unemployment rate is 4 percent, the natural unemployment rate is 5 percent, and the cyclical unemployment rate is 3 percent. The frictional unemployment rate is ____________ percent and the actual unemployment rate is __________ percent
A) 2; 7 B) 2; 8 C) 1; 7 D) 1; 8
Which of the following support the idea that monetary policy should be made by a rule?
a. the political business cycle and the time-inconsistency problem b. the political business cycle but not the time-inconsistency problem c. the time-inconsistency problem, but not the political business cycle d. neither the political business cycle nor the time-inconsistency problem
If demand for farm crops is inelastic, a good harvest will cause farm revenues to:
A. decrease because of a percentage fall in price greater than the percentage increase in quantity sold. B. increase because of a downward movement along the supply curve, encouraging an increase in demand. C. increase because of the increase in the quantity that farmers can sell. D. remain unchanged because the increase in quantity that can be sold will be matched by an equal decrease in price.