Which of the Following Characteristics Define the Long Run in Macroeconomics

question 87

Multiple Choice

Which of the following characteristics define the long run in macroeconomics?

• A)Factor prices are exogenous, and technology and factor supplies are constant.
• B)Factor prices adjust to output gaps, and technology and factor supplies are changing.
• C)Factor prices are exogenous, and technology and factor supplies are changing.
• D)Factor prices adjust to output gaps, and technology and factor supplies are constant.
• E)Factor prices are exogenous, technology and factor prices are exogenous.

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Definitions:

Universally

A term indicating applicability or occurrence in every case, everywhere, or for everyone without exception.

Kübler-Ross

A model proposed by Elisabeth Kübler-Ross outlining five stages of grief: denial, anger, bargaining, depression, and acceptance.

Stages Of Death

A concept often referring to the Kubler-Ross model, which includes denial, anger, bargaining, depression, and acceptance as emotional stages experienced by terminally ill patients.

Acceptance

The act of receiving or taking something offered, or the recognition of a new situation or condition without attempting to change it.