What Is the Correct Definition of the Short Run

question 60

Multiple Choice

What is the correct definition of the short run?

• A) a period during which some resource prices, especially those for labor, remain fixed
• B) a period during which some resource prices, especially those for labor, are variable
• C) a period during which some resource prices, especially those for labor, are less than expected
• D) a period during which some resource prices, especially those for labor, are more than expected
• E) a period during which some resource prices, especially those for labor, can be renegotiated

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Definitions:

Dodd-Frank Act

A comprehensive financial reform law passed in 2010 in response to the financial crisis, aimed at reducing risks in the financial system.

TARP

Troubled Asset Relief Program, a government initiative to purchase toxic assets and equity from financial institutions to strengthen the financial sector during the 2008 financial crisis.

Government Deficit Reduction

Measures taken by a government to decrease the amount by which its spending exceeds its income, often implying budget cuts and/or tax increases.

FTC Act

The Federal Trade Commission Act, which established the Federal Trade Commission (FTC) to prevent unfair competition, deceptive practices, or misleading advertisements in the marketplace.