Which of the following factors of production is most likely to be variable in the short run?
A) land
B) capital equipment
C) labour
D) entrepreneurship
E) technology
Ans: C) labour
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If a banker expects interest rates to fall in the future, her best strategy for the present is
A) to increase the duration of the bank's liabilities. B) to buy short-term bonds. C) to sell long-term certificates of deposit. D) to increase the duration of the bank's assets.
In the IS-LM model, if interest rates fall while output falls the
a. money supply must have fallen. b. price level must have fallen. c. money supply must have risen. d. level of government spending must have risen. e. none of the above.
In which of the following actions is Agatha committing wage discrimination?
a. by paying Bob, who is very productive, more than everyone else b. by paying everyone equally regardless of education or skill c. by paying Asian employees less than white employees for the same job d. by paying women managers more than women hourly workers
Economic activity moves from a trough into a period of ________ until it reaches a ________ and then into a period of ________.
A. expansion; peak; recession B. recession; peak; expansion C. expansion; trough; recession. D. recession; trough; expansion