Which of the following is a short-run decision for a muffin shop?
a. hire more workers
b. add new ovens
c. expand into the building next door
d. open a second shop on the other side of town
e. go out of business
A
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When a government has a large budget deficit, it must issue government bonds to finance the deficit. Explain if it matters for the rate of inflation if the government sells the bonds to the public or sells the bonds to the central bank?
What will be an ideal response?
For many years country A has had a lower unemployment rate than country B. According to the long-run Phillips curve which of the following could explain this? Country A has
a. maintained a higher money supply growth rate. b. maintained a lower money supply growth rate. c. a higher minimum wage than country B. d. a lower minimum wage than country B.
When the employees at Invigorate Corporation receive an across-the-board raise of 5 percent, the demand for dining at mid-priced restaurants increases 7 percent. The restaurants are an example of a(n) ______ good.
a. superior b. inferior c. stable d. normal
If a country grows at an average rate of 3.5 percent per year, we can estimate it will double its:
A. growth rate in 20 years. B. growth rate in 70 years. C. real GDP per capita in 20 years. D. real GDP per capita in 70 years.