For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment
In the long run, the responsiveness of demand for business equipment with respect to income changes tends to be: A) even more responsive.
B) less responsive.
C) equally responsive.
D) none of the above
B
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In the short run, ________ increases the quantity of labor demanded by the firm
A) a decrease in the price of the firm's output B) an increase in the prices of other factors of production used by the firm C) a technological advance that decreases the marginal product of labor D) a decrease in the wage rate
If Marginal cost is lower than Average Cost (AC), average cost is
a. falling b. rising c. constant d. none of the above
In the long run, monopolistic competition
a. results in a monopoly b. ends up with one firm, that is, competition transforms to monopoly c. ends up with many firms in the industry d. has zero barriers to entry e. has no product differentiation
The purchase of VCU2 by Tomas Tiergarten, a private resident, causes the nation's:
a. Monetary base to remain the same. b. M2 money supply to fall. c. M2 money multiplier to fall. d. M2 money supply to rise.