The Long Run Refers to a Period

question 10

Multiple Choice

The long run refers to a period:

• A) of decades.
• B) during which capital and labor are sometimes not fully employed.
• C) during which prices are flexible.
• D) during which output deviates from the full-employment level.

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Definitions:

Scapegoat Theory

A concept suggesting that individuals or groups blame their own failures or shortcomings on another person or group.

Other-race Effect

The tendency to more easily recognize faces of the race that one is most familiar with, which can lead to difficulties in cross-racial identification.

Gender Preference

An individual's inclination or favoritism towards a specific gender, which can influence interpersonal attraction, friendships, and other social dynamics.

Criminal

An individual who has committed a crime or unlawful act as defined by the legal system.