The long run is a planning period:
a. during which the firm can vary its plant size.
b. less than six months.
c. less than one year.
d. less than five years.
a
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According to the table above, would there be trade flows in both directions if the exchange rate were $1 = 1 peso?
What will be an ideal response?
Which of the following is NOT an example of ways in which microeconomic analysis can help Toyota Motor Corporation its in corporate decision making?
A) Forecasting demand for new automobiles B) Determining how many automobiles to produce in order to maximize profits C) Predicting how competitors will react to the firm's pricing strategy D) Forecasting the effect of Toyota's hiring patterns on the U.S. unemployment rate E) Forecasting the effect of an oil price increase on demand for hybrid autos
According to economists who promote sticky-price theories
A) only fiscal policy is an effective stabilization policy. B) only monetary policy is an effective stabilization policy. C) both fiscal and monetary policy can be effective stabilization policies. D) neither fiscal nor monetary policy is an effective stabilization policy.
Darius’s country and Selim’s country each have educated workers and plenty of factories, machines, and tools. However, Darius’s country has greater output and a higher economic growth rate. What is most likely the cause of this?
a. Darius’s country has a greater quantity and quality of natural resources. b. The population of Selim’s country is much larger. c. Selim’s country has a more extensive and reliable infrastructure network. d. The government in Darius’s country does not enforce the rule of law.