Which of the Following Statements Is True

question 160

Multiple Choice

Which of the following statements is true?

• A)The short run is always somewhere between six and twelve months.
• B)In the short run, changes in output can only be brought about by a change in the quantity of variable inputs.
• C)The long run is any period of time over one year.
• D)In the short run, there are variable costs but no fixed costs.

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Definitions:

Perceived Inequity

The sense of feeling under-rewarded or over-rewarded in comparison with others.

Inputs Ratio

Measurement comparing the amount or quality of resources used to the output or results achieved, often used in productivity and efficiency analysis.

ERG Theory

A theory of human motivation that categorizes needs into three groups: Existence, Relatedness, and Growth, suggesting that individuals seek to fulfill these needs in a hierarchical order.

Existence Needs

Basic human needs for physiological and material well-being, such as food, shelter, and safety, based on Abraham Maslow's hierarchy of needs.