In Macroeconomic Models, Prices Are Assumed to Be Completely Inflexible

question 173

Multiple Choice

In macroeconomic models, prices are assumed to be completely inflexible in

• A)the very short run only.
• B)the short run and remains so over time.
• C)the very long run.
• D)situations when the changes in demand look to be permanent.

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Definitions:

Observational Methods

Research strategies that involve systematically watching behaviors in natural settings and recording what is seen in an objective manner.

Self-report Methods

Research techniques that involve individuals providing their own written or verbal reports of their experiences or behaviors.

Multilevel Processes

Operations or phenomena occurring at and interacting across different hierarchical levels, such as individual, team, and organizational.

Cohesiveness

The quality of forming a united whole, often referring to the sense of solidarity or togetherness within a group.