The academic calendar for a university is August 15 through May 15. A professor commits to a contract that binds her to a teaching position at this university for this period. Based on this? information, the short run for the professor
A. will be the nine month period between August 15 and May? 15; any time period longer than this will be long run for her.
B. will be the time period between August 15 and December? 31; any time period longer than this will be long run for her.
C. will be the calendar year between January 1 and December? 31; any time period longer than this will be long run for her.
D. will be the time period between August 15 of the current year and August 14 of the following? year; any time period longer than this will be long run for her.
Answer: A. will be the nine month period between August 15 and May? 15; any time period longer than this will be long run for her.
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According to your text, the so-called "Superbowl Effect"
A) is an example of a mere statistical correlation. B) is an example of correct cause-and-effect reasoning. C) is a sound discovery in economic theory. D) is based upon a false set of facts.
If you use $500 of currency to make a deposit in a saving deposit
A) M1 decreases, but M2 is unchanged. B) M1 decreases and M2 increases. C) M1 is unchanged, but M2 increases. D) M1 and M2 both increase.
Disinflation refers to
A) a rapid increase in the price level. B) a decrease in the price level. C) a reduction in the rate of inflation. D) an increase in the rate of inflation.
The principal-agent problem would not occur if ________ of a firm had complete information about actions of the ________
A) owners; customers B) owners; managers C) managers; customers D) managers; owners