Which of the Following Is a Long-Run Adjustment

question 33

Multiple Choice

Which of the following is a long-run adjustment?

• A) A firm lays off two workers.
• B) Two firms exit the asbestos removal industry.
• C) A manufacturer increases its purchase of raw materials.
• D) A farmer buys twice her usual amount of herbicide.

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Definitions:

Committees of Observation

were bodies established by American colonists during the early stages of the Revolutionary War to enforce the boycott of British goods following the Townshend Acts and to spread the cause of liberty.

Revolutionary Tribunals

Courts established in revolutionary periods, especially noted during the French Revolution, to try enemies of the revolution swiftly and without the same procedural rights as regular courts.

Spy Networks

Organized groups of spies that collect intelligence and conduct espionage operations for governments, organizations, or military units.

Townshend Acts

A series of British Acts of Parliament passed during 1767 and 1768 relating to the British colonies in America, which imposed duties on tea, lead, paint, paper, and glass.