The short run for Barbara's Bakery is defined as
a. one year
b. one month
c. the period of time during which all inputs are variable
d. the period of time during which at least one input is fixed
e. the time needed for a transaction to occur
D
You might also like to view...
The price reflecting the true social opportunity costs of a resource is known as
(a) a shadow price. (b) an equilibrium price. (c) a world price. (d) a price index.
According to The Economist magazine's Big Mac index, one of the most overvalued currencies as of July 2008 was the Norwegian kroner. Which of the following is a likely implication of that fact?
A) That goods and services are more expensive in Norway than in the U.S. B) That the Norwegian currency is going to be undervalued in the near future. C) That the Norwegian currency is likely to appreciate in the near future. D) That the Norwegian government is running a large deficit.
Which of the following are motivations for those seeking redistributive transfers?
a. The creation of more income equality. b. To help out those who are less fortunate c. To create a more just economic system. d. a and b e. all of the above
Corporate managers and stockholders usually have the same goal of maximizing profit
Indicate whether the statement is true or false