The long run is characterized by:
A. the relevance of the law of diminishing returns.
B. at least one fixed input.
C. insufficient time for firms to enter or leave the industry.
D. the ability of the firm to change its plant size.
Answer: D
Economics
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Everything else held constant, a decrease in wealth
A) increases the demand for stocks. B) increases the demand for bonds. C) reduces the demand for silver. D) increases the demand for gold.
Economics
In 1790, there were only three banks in the U.S. By 1811, there were 88 . Most of these new banks were:
a. created and operated by the federal government. b. created and operated by state and local governments. c. private-sector, state-chartered banks. d. branches of banks with English charters.
Economics