A Difference Between the Economic Long Run and the Short

question 116

Multiple Choice

A difference between the economic long run and the short run is that:

• A) the classical dichotomy holds in the short run but not in the long run.
• B) monetary and fiscal policy affect output only in the long run.
• C) demand can affect output and employment in the short run, whereas supply is the ruling force in the long run.
• D) prices and wages are sticky in the long run only.

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Definitions:

Corpus Spongiosum

A sponge-like tissue surrounding the urethra within the penis, engorging with blood during erection to prevent the urethra from pinching closed.

Corpora Cavernosa

Two cylindrical chambers running along the penis, which fill with blood during an erection.

Dorsal

Pertaining to the back side of the body or organ, opposite of ventral, which refers to the belly side.

Gantt Chart

A visual project management tool that displays tasks against time, highlighting project duration, task order, and progress.