Stan owns a software design business. He does not have time to expand his office space or redesign the layout of his office
He can increase the amount of work he does by working more hours, asking his current employees to work more hours, or hiring more employees. The relationship between Stan's inputs and the maximum output his firm can produce is called his
A) short-run production function. B) cost function.
C) long-run production function. D) production possibilities frontier.
A
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Starting from long-run equilibrium, the long-run impact(s) of an increase in autonomous consumption, compared to the original equilibrium, is:
A. higher inflation and the same output. B. lower inflation and the same output. C. lower inflation and lower output. D. higher inflation and higher output.
Self-control issues exist for several areas for most people. Which of the following is not on the usual list?
a. Using credit or debit cards b. Mail order clubs or buying online c. Malls, shopping centers or other types of in-person shopping d. Antiques
When the Fed makes a discount loan, the impact on the Fed's balance sheet will reflect:
A. a decrease in assets and liabilities. B. an increase in assets and a decrease in liabilities. C. no change in liabilities but an increase in assets. D. an increase in assets and liabilities.
Meta-ideas involve
A) the methods of producing ideas. B) persuading others of the validity of one's ideas. C) putting ideas in a form capable of approval in a "yes" or "no" vote. D) the expression of ideas in mathematical form.