In the Short Run, Total Output in an Industry

question 64

Multiple Choice

In the short run, total output in an industry

• A)is fixed at a specific level.
• B)can vary as the result of using a fixed amount of plant and equipment more or less intensively.
• C)may be altered by varying the size of plant and equipment which now exist in the industry.
• D)can vary as the result of new firms entering or leaving the industry.

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Definitions:

Generalized Dissociative Amnesia

A psychological condition in which a person cannot recall important personal information, not due to ordinary forgetfulness but often triggered by trauma or stress.

Psychomotor Retardation

A slowing-down of thought and a reduction of physical movements in an individual, often an indicator of major depression or other psychiatric disorders.

Obsessive-compulsive Disorder

A mental health disorder characterized by uncontrollable, recurring thoughts (obsessions) and behaviors (compulsions) that the individual feels the urge to repeat.

Panic Disorder

A psychiatric disorder characterized by recurrent, unexpected panic attacks and ongoing concern about having more attacks or changing behavior to avoid them.