While short-run growth increases capacity, long-run growth increases capacity utilization.
Answer the following statement true (T) or false (F)
False
Short-run efficiency improvements increase capacity utilization, and long-run growth increases capacity.
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Each month, how many households does the U.S. Bureau of the Census survey in the Current Population Survey (CPS) in order to determine the unemployment rates?
a. About 140,000 households b. About 60,000 households c. About 140,000 businesses and government agencies d. About 60,000 businesses and government agencies
Which of the following will cause a decrease in consumer surplus?
a. an increase in the number of sellers of the good b. a decrease in the production cost of the good c. sellers expect the price of the good to be lower next month d. the imposition of a binding price floor in the market
Once decreasing marginal returns sets in a production process ________ declines
a. total revenue b. total product c. average product d. marginal product
The total amount owed by the federal government to the public is the
A. fiscal drag. B. federal budget deficit. C. net tax revenue. D. federal debt.