Economists Usually Assume That ________ Is a Variable Input in the ________

question 133

Multiple Choice

Economists usually assume that ________ is a variable input in the ________ run.

• A) labor; short
• B) capital; short
• C) labor; short and long
• D) capital; short and long

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Definitions:

Tax Deductible

Refers to certain expenses that can be subtracted from income to reduce the total taxable income.

Capital Gains

Profit earned from the sale of assets like stocks or real estate, where the sale price exceeds the purchase price.

Ordinary Income

Income earned from standard operations of a business or through wages, as opposed to capital gains or investment income.

Profitability of Operations

An assessment of how efficiently a company generates profit from its core business activities, excluding peripheral activities.