The Specific­factors Model Is Termed a "Short­run" Model

question 107

Multiple Choice

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.

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Definitions:

OASDI

An acronym for Old-Age, Survivors, and Disability Insurance, a comprehensive federal benefits program that provides benefits to retired people, the disabled, and survivors of deceased workers.

Medicare

A federal health insurance program in the United States primarily for people aged 65 and older, as well as for some younger people with disabilities.

FUTA

FUTA (Federal Unemployment Tax Act) is a United States federal law that imposes a payroll tax on any business with employees, the funds are used to pay unemployment benefits.

SUTA

State Unemployment Tax Act, referring to state-level taxes that employers must pay towards state unemployment insurance programs.