Which of the following can a firm do in the long run but not in the short run?
A) decrease the size of its physical plant B) reduce its rate of output by laying off workers
C) increase its use of raw materials D) increase its variable costs
A
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In a situation of excess supply in the labor market, there are:
a. many applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have. b. few applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have. c. many applicants for every job opening; employers will have an incentive to offer higher wages than they otherwise would have. d. few applicants for every job opening; employers will have an incentive to offer higher wages than they otherwise would have.
The Fed relies on three instruments to control the money supply. They are
a. taxes, reserve requirements, and the discount rate b. government spending, the discount rate, and open market operations c. reserve requirements, the discount rate, and currency liability d. reserve requirements, the discount rate, and open market operations e. reserve requirements, taxes, and open market operations
As you can see, in terms of economic theory, this argument reflects the difference between classical and Keynesian views of how economies operate
What will be an ideal response?What will be an ideal response?
If the natural rate of unemployment is 10% and 6% of employed workers become unemployed each period, then
a) the natural rate is declining b) 4% of the unemployed remain unemployed each period c) the labor force is expanding at a rate of 16% d) the outflow from unemployment occurs at a rate of 54% e) 60% of the unemployed find employment each period