The factor of production that is always fixed in the short run is
a. the amount of raw materials
b. the size of the physical plant
c. the number of workers
d. energy costs
e. quantity of output
B
Economics
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One reason larger governments might be preferable to smaller ones is _____
a. diminishing marginal utility b. intergovernmental competition c. economies of scale d. the flypaper effect
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The standard definition of "recession" is
A) a period of a positive frictional unemployment rate. B) two consecutive quarters of falling Real GDP. C) the lowest point in a business cycle. D) a period of negative inflation.
Economics