In economics, the short run is the time frame in which the quantities of ________ and the long run is the period of time in which ________
A) some factors of production are variable; the quantities of all factors of production are fixed
B) all factors of production are variable but technology is fixed; technology is variable
C) all factors of production are fixed; the quantities of all factors of production can be varied
D) some factors of production are fixed; the quantities of all factors of production can be varied
D
You might also like to view...
Why is the line between frictional and structural unemployment sometimes hard to draw?
What will be an ideal response?
Which area in the above figure equals the consumer surplus under perfect price discrimination?
A) A + B + C + D + E + F + G + H B) A + B + C + D + E C) A + B D) There is no consumer surplus.
The year in which euro coins and paper currency were introduced and participating "euro zone" countries withdrew old domestic currencies from circulation was
A) 2007. B) 2002. C) 1999. D) 1995.
The inflation rate measures the percentage increase in the price level from one year to the next
Indicate whether the statement is true or false