The long run is
A) over five years.
B) the time period in which all factors of production can be varied.
C) when all factors of production are fixed.
D) over one year.
Answer: B) the time period in which all factors of production can be varied.
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Marginal benefit is the benefit that a person receives from consuming
A) a good or service until the person has grown tired of it. B) only goods and services that are free. C) one more unit of a good or service. D) all of the possible units of a good or service that can be consumed. E) one more unit of a good and is equal to the cost of producing the unit of the good.
Distinguish between the short-run and long-run factors that affect residential investment
What will be an ideal response?
The ________ measure of money contains items that are not direct media of exchange, such as ________
A) M1, checkable deposits B) M1, savings certificates C) M2, checkable deposits D) M2, savings certificates
Job openings are plentiful when the
A) actual real GDP is above the natural real GDP. B) natural real GDP is above the actual real GDP. C) natural real GDP is increasing rapidly. D) None of the above.