The key difference between a stock and a flow is that a flow is measured ________ , while a stock is measured ________
a. at a point in time; over an interval of time
b. over an interval of time; at a point in time
c. over a single year; over a single month
d. over a single month; over a single year
b
You might also like to view...
Bubba's BBQ has fallen on some hard times. Bubba has analyzed his past revenue and cost information and knows that if he shuts down, he will incur an economic loss equal to $20,000 in remaining lease payments
Apparently, Bubba's current planning horizon is A) the short run because he still faces some fixed costs. B) the long run because he faces only variable costs. C) the short run because he faces only variable costs. D) neither the short run nor the long run because lease payments do not figure into cost determinations.
Assume that a perfectly competitive firm faces a fixed wage rate of $4 and a constant per-unit cost of capital of $2. If the marginal product of labor and capital are 16 and 6, respectively, then to maximize profits the firm should
A) use relatively more labor. B) use relatively less labor. C) increase all inputs proportionately. D) decrease all inputs proportionately.
The annual rate of growth of commodity output during the Civil War:
a. held constant from the previous decade. b. increased by roughly 25 percent. c. fell by more than 50 percent. d. None of the above is correct.
What type of business is most likely to be run as a family business?
a. multinational b. corporation c. partnership d. mutual fund e. sole proprietorship