Every year Mary rents a tiller from the local hardware store and turns over the soil in her yard to plant her garden. She decides how big a plot to till and when she is finished, she returns the tiller to the hardware store. From that point on, Mary is operating in the
a. long run because she has designated the size of her plot
b. long run because the growing season is only a few months long
c. short or long run because she can always decide not to plant any vegetables
d. short run because she has chosen her scale of operation
e. short run because once she waters the garden, she cannot get the water back
D
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The bowed shape of the per-worker production function is caused by
A) wealth effects that reduce labor supply. B) diminishing marginal productivity of capital. C) increasing marginal productivity of labor. D) increasing marginal productivity of capital.
Which of the following people would be considered employed in the Census Bureau's Household Survey?
a. A homemaker working 20 hours cleaning her house b. A person paid to work 2 hours per week cleaning houses c. A child shoveling neighbors' driveways for money d. A person volunteering full-time at a local hospital e. A laid-off carpenter looking for a job