In the long run, a firm can change
A. all inputs.
B. nothing.
C. only one input, such as plant size.
D. None of these are correct.
Answer: A
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The wages for Nike workers increases. At the same time, we see the price for Adidas shoes increase. How does this affect the market for Nike shoes?
a. The demand curve will shift to the left; the supply curve will shift to the left b. The demand curve will shift to the left; the supply curve will shift to the right c. The demand curve will shift to the right; the supply curve will shift to the left d. The demand curve will shift to the right; the supply curve will shift to the right
Pollution problems
a. have existed for many centuries. b. are attributable to modern industrialization. c. can be blamed on the profit system. d. have worsened in every respect in the past forty years.
According to the real balances effect, when the price level:
A. Falls, cash is worth less and therefore people buy less. B. Falls, cash is worth more and therefore people buy more. C. Rises, cash is worth less and therefore people buy more. D. Rises, cash is worth more and therefore people buy less.
In the recession that started in 2008, the savings rate:
A. became negative. B. decreased. C. increased. D. stayed the same.