Which of the Following Is an Example of a Long-Run

question 300

Multiple Choice

Which of the following is an example of a long-run adjustment?

• A) Your university offers Saturday morning classes next fall.
• B) Ford Motor Company lays off 2,000 assembly line workers.
• C) A soybean farmer turns on the irrigation system after a month long dry spell.
• D) Wal-Mart builds another Supercenter.

Understand the variable cost method of cost-plus pricing and its application.

Understand the concepts of cost centers, profit centers, and investment centers and their differences.

Comprehend the structure and implications of centralized and decentralized business organizations.

Recognize the role and impact of budgets and budget performance reports in managing responsibility centers.

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Definitions:

Poverty Rate

The percentage of the population that lives below the national poverty line, indicating the proportion of individuals or families with income levels insufficient to meet basic living expenses.

Homeless

The homeless are individuals who lack stable, permanent, and adequate housing.

$2 A Day

A poverty threshold that delineates extreme poverty by the metric of living on less than $2 per day, adjusted for purchasing power parity.

Largest Poverty Group

refers to the demographic segment within a society that accounts for the largest share of individuals living below the poverty line.