What Would Be the Most Painless Way to Take Some

question 150

Multiple Choice

What would be the most painless way to take some terrible-tasting medicine?

• A) Hold your nose when you take it.
• B) Drink salty water before taking the medicine.
• C) Close your eyes and have someone give it to you.
• D) Add sugar to the medicine.

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Definitions:

Long Run

A period of time sufficient for all inputs in the production process to be adjusted, including both fixed and variable resources.

Short-Run Equilibrium

A state in which market supply equals market demand at a particular price level, but where all factors of production and costs are not fully adjustable.

Long-Run Equilibrium

A state in which economic forces such as supply and demand are balanced and in the absence of external influences the values of economic variables will not change.

Economic Expansions

Phases in the business cycle where the economy grows, characterized by increased output, employment, and consumer spending.