What Are the Three Time Horizons Used to Categorize Aggregate

question 147

Essay

What are the three time horizons used to categorize aggregate supply? What is the difference
between the immediate short run and the short-run aggregate supply?

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Definitions:

F-Ratio

A statistic used in ANOVA to compare the variance among group means to the variance within groups; a measure of variance between groups relative to variance within groups.

Main Effect

In statistical analysis, the direct impact of an independent variable on a dependent variable, disregarding the influences of or interactions with other variables.

Reject

In statistics, to refuse the null hypothesis based on evidence from sample data meeting a predetermined significance level.

Interaction Effect

In statistics, the effect that an independent variable has on the outcome variable depends on or varies according to the levels of one or more other independent variables.