Which of the following is TRUE about the long run?
A) All resources are variable.
B) All resources are fixed.
C) At least one resource is fixed.
D) none of the above
Answer: A
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The table above shows
A) a total product schedule. B) the market for labor. C) a production possibility frontier. D) a supply schedule. E) a demand for labor schedule.
Annual budgeting of production goals of a division within a firm
a. is an accounting mechanism to plan for the costs and revenues over a time period b. increase the burden on the division when goals rise c. can lead to accumulated inventory when the goals of an upstream division are arbitrarily set too high d. all of the above
Why would a landlord most likely give a tenant an incentive to leave a rent-controlled apartment?
a. to attract tenants will lower incomes b. to remodel the apartment and list it at a higher rent c. to provide the tenant with start-up money for a business d. to repair the apartment so it will pass the government code
Expansionary monetary policy would shift the
A. aggregate supply curve up and to the left. B. aggregate demand curve to the right. C. aggregate supply curve down and to the right. D. aggregate demand curve to the left.