In the Long Run

question 109

Multiple Choice

In the long run

• A) prices are sticky.
• B) the economy operates at full employment.
• C) increases in government spending do not effect other uses of output.
• D) increases in the money supply increase the level of output.

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Definitions:

Non-Union Business

An organization or industry that does not have its employees represented by a labor union.

Wrongful Dismissal

The termination of an employee's contract of employment without just cause or in violation of the contract's terms.

Reasonable Notice

The adequate time or warning given in advance of an event or action, such as termination of employment, required by law or contract.

Damages Payable

Monetary compensation that a party is legally obligated to pay as a result of causing harm or loss to another party.