The specificfactors model is termed a "shortrun" model because:
a. labor cannot move from one activity to another.
b. land resources can move from one activity to another .
c. labor can move from one activity to another.
d. land and capital cannot move from one activity to another .
Answer: d. land and capital cannot move from one activity to another
Economics
You might also like to view...
Compared to a valued added tax, a sales tax is _____
a. easier to monitor b. easier to apply to investment goods c. harder to collect d. all of the above e. a and b
Economics
The idea behind money as a standard of value is that use of money allows:
a. greater efficiency in exchange b. receipt of income to be separated from spending. c. persons to hold spending power for some period of time. d. prices quoted in money terms.
Economics