Which of the Following Statements Best Describes Price Flexibility in the Economy

question 169

Multiple Choice

Which of the following statements best describes price flexibility in the economy?

• A)Prices tend to be sticky in the short run and stuck in the long run.
• B)Prices tend to be just as sticky in the short run as in the long run.
• C)Prices tend to be sticky in the short run but become more flexible over time.
• D)Prices tend to be flexible in the short run but become more sticky over time.

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Definitions:

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A psychoactive substance found in drinks such as beer, wine, and spirits that can alter mood and behavior.

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A sudden, involuntary urge to act or respond without premeditation, often based on immediate emotions or desires.

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A legal defense theory that a person was insane during the commission of a crime but regained sanity after the act.

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A broad category of conditions affecting an individual's thinking, perception, behavior, or mood, significantly impacting day-to-day life.