In the Short-Run an Increase in the Costs of Production

question 71

Multiple Choice

In the short-run an increase in the costs of production makes

• A)output and prices rise.
• B)output rise and prices fall.
• C)output fall and prices rise.
• D)output and prices fall.

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Definitions:

School Performance

A measure of how well students understand and can apply the knowledge and skills expected of them by their educational system.

Bystander Apathy

A social psychological phenomenon in which individuals are less likely to offer help to a victim when other people are present.

Diffusion of Responsibility

A sociopsychological phenomenon whereby a person is less likely to take responsibility for action or inaction when others are present.

Acculturation

The process by which members of minority groups come to identify with and feel part of the mainstream culture.