The short run is the time period during which
a. all of the firm's costs are fixed.
b. the value of the firm's assets starts to decay.
c. the firm can adjust all inputs freely.
d. some of the firm's input decisions are constrained by previous commitments.
d
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A one percentage point in the growth rate
A) does not make much difference in the long run per capita real GDP. B) will not influence the real standard of living in a country. C) can make a big difference in the per capita real GDP because of urban congestion. D) can make a big difference in the per capita real GDP because of compounding.
In order to determine the velocity of money, we need to know: a. the money supply and the price level. b. nominal GDP and real GDP
c. the money supply and nominal GDP. d. the interest rate and nominal GDP.
Factors of production that can be used together to enhance the other's productivity are
A. proportionate inputs. B. complementary inputs. C. duplicate inputs. D. substitutable inputs.
A financial crisis brought on by volatile capital flows
A) is usually inevitable given underlying conditions. B) does not happen to countries with strong international positions. C) is often preceded by capital inflows and an increase in foreign liabilities. D) is usually the result of high budget deficits.