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What Is the Basic Difference Between the Short Run and Long

question 17

Essay

What is the basic difference between the short run and long run as these terms relate to
macroeconomics? Why does this difference occur?


Definitions:

Networks of Support

Systems or groups that provide assistance, information, or resources to individuals or organizations, often in times of need.

Resources

Assets, materials, or other items of value that can be used to achieve goals or fulfill needs.

Developmental Science

The field of study that focuses on the range of children’s physical, intellectual, social, and emotional developments.

Maladjustment

A failure to adapt to one's environment in a manner that is considered normal or socially acceptable.

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