A firm's decision to expand the size of its production facility would be considered a short-run decision so long as the expansion can be completed in less than a year
Indicate whether the statement is true or false
FALSE
You might also like to view...
Dividing the number of people unemployed by the civilian labor force gives us
A) the employment rate. B) the unemployment rate. C) the labor force participation rate. D) none of the above.
Which of the following is considered by experts to have relatively little power within the Federal Reserve?
A) The Board of Governors B) The president of the New York Federal Reserve Bank C) The economic staff of the Board of Governors D) The Federal Advisory Council
The local government is holding an auction for a contract to build a new multi-deck parking lot downtown. If the government has a policy to release its own cost estimates of the work to the auction participants, the participants will have ________ confidence in their own cost estimates and will submit ________ bids.
A) less; lower B) more; lower C) less; more D) more; higher
The Smith family owns an apple orchard in Illinois. The Jones family owns an apple orchard in Wisconsin. A late frost destroys half of the Smith family's harvest for one year. For the Jones family, their
a. transitory income for the year of the frost likely exceeds their permanent income. b. permanent income likely exceeds their transitory income for the year of the frost. c. permanent income will be more affected by the frost than their transitory income. d. Both a and c are correct.