Advertising always results in a more elastic demand curve for the firm's product
a. True
b. False
B
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Demand-side inflation occurs when
A) long-run aggregate demand rises faster than short-run aggregate supply. B) aggregate demand falls more rapidly than aggregate supply. C) increases in aggregate supply outstrip increases in aggregate demand. D) increases in aggregate demand are not matched by increases in aggregate supply.
Which of the following would be a liability to a bank?
a. cash in the vault b. a loan to a new business c. a checking account of a professor d. All of the above are correct.
When a firm makes verbal promises about future working conditions, benefits and raises, and promotions, it is offering a(n)
A. implicit labor contract. B. compensating wage differential. C. human capital contract. D. explicit labor contract.
Decreasing returns to scale
A) indicate that an increase in all inputs by some proportion will result in a decrease in output. B) must always occur at some point in the production process. C) are directly related to the law of diminishing returns. D) All of the above are true. E) None of the above is true.