Which of the following is the best example of a long-run decision?
A. A business consulting firm considering whether to hire some interns to assist with research and data processing.
B. A business consulting firm considering whether to add new computers while maintaining the same number of employees.
C. An automobile manufacturing company considering whether to expand its existing workforce while keeping the same factory and equipment.
D. An automobile manufacturing company considering whether to invest in robotic equipment to develop a more cost-effective production technique.
Answer: D
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In many countries, an exchange-rate peg substitutes for ________
A) speculative attacks B) an export-oriented sector C) discretionary monetary policy D) capital controls
Which of the following is most sensitive to fluctuations in GDP?
a. government purchases b. government nonmilitary spending c. transfer payments d. military spending e. interest on the national debt
The goal of liberalism is to
a. redistribute income based on the assumption of diminishing marginal utility. b. redistribute income in order to improve the well-being of the worst-off person in society. c. punish crimes and enforce voluntary agreements but not to redistribute income. d. measure happiness and satisfaction.
How much is the percentage of income received by the lowest quintile on line R?
