If the price were $20, what would the firm do in the (a) short run? (b) long run?
(a) operate; (b) stay in business
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Which of the following is a disadvantage to monetary targeting?
A) It relies on a stable money-inflation relationship. B) There is a delayed signal about the achievement of a target. C) It implies larger output fluctuations. D) It implies a lack of transparency.
Workers who are unemployed for long periods of time are more likely to be unemployed for ________ reasons than for ________ reasons
A) cyclical; frictional or structural B) frictional; structural or cyclical C) structural; frictional or cyclical D) frictional or structural; cyclical
According to economists, human activity is unresponsive to changes in costs
a. True b. False Indicate whether the statement is true or false
Which statement is most likely correct about supply?
a. When economists refer to supply, they are referring to a certain point on the supply curve, or a quantity on the supply schedule. b. When economists refer to supply, they are referring to the relationship between a range of prices and the quantities supplied at those prices. c. When economists refer to supply they are referring to a specific point on the curve, not the entire curve. d. When economists refer to supply, they are referring to the relationship between a range of prices and the quantities demanded at those prices.