Issues of growth are generally considered in:
A. the long-run framework.
B. the short-run framework.
C. both the short-run and the long-run frameworks.
D. neither the short-run nor the long-run frameworks.
Answer: A
You might also like to view...
The requirement that people in similar situations be treated similarly is called
A) the big tradeoff. B) the symmetry principle. C) utilitarianism. D) efficiency.
Compare a football quarterback’s daily and yearly completed pass percentage to a business’s marginal and average product.
What will be an ideal response?
Ronald Reagan believed that reducing income tax rates would
a. do little, if anything, to encourage hard work. b. result in large increases in deadweight losses. c. raise economic well-being and perhaps even tax revenue. d. lower economic well-being, even though tax revenue could possibly increase.
Jaycee Jeans sold 40 pairs of jeans at a price of $40. When it lowered its price to $20, the quantity sold increased to 60 pairs. Calculate the absolute value of the price elasticity of demand. Use the midpoint formula
A) 1.67 B) 1.0 C) 0.6 D) 0.53