In the long run, the firm ________ change the number of workers it employs and ________ change the size of its plant.
A) can; can
B) can; cannot
C) cannot; can
D) cannot; cannot
E) In order to answer the question, more information is needed about how long the long run is.
A) can; can
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A country will be able to consume a combination of goods that is not attainable solely from domestic production if
A) the world terms of trade differ from its domestic relative costs. B) the country specializes in one product. C) the country avoids international trade. D) the world terms of trade equal the domestic relative costs. E) the country's domestic production value equals world relative value.
What happens if a government uses an expansionary fiscal policy to increase GDP?
a. The aggregate supply curve will shift to the right. b. The aggregate supply curve will shift to the left. c. The aggregate demand curve will shift to the left. d. The aggregate demand curve will shift to the right.
The federal funds rate is the interest rate:
a. U.S. financial institutions pay to their best (i.e., largest) depositors. b. U.S. financial institutions charge their best customers. c. On U.S. interbank loans. d. The Federal Reserve changes banks that borrow from it. e. The World Bank charges to central banks.
Durable goods are:
a. consumers' goods b. raw materials combined to produce consumer goods c. those that must be replaced after each use d. those that may be stored and repaired e. none of the above