Which Resource(s) Can Be Varied in the Short Run

question 11

Multiple Choice

Which resource(s) can be varied in the short run?

• A) land and capital
• B) land
• C) labor and capital
• D) labor

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Definitions:

Capital Account

It reflects the net change in assets and liabilities from transactions in foreign investments and loans, indicating a country's financial position with the rest of the world.

Financial Account

A component of a country’s balance of payments that records transactions of foreign investment and domestic investment abroad, reflecting changes in ownership of international assets.

Financial Account

A component of a country's balance of payments that records transactions involving financial assets and liabilities between residents and non-residents over a period.

Capital Account

A national account that shows the net change in asset ownership for a nation, including assets from financial and physical capital.