The Long Run Is the Period of Time During Which

question 192

Multiple Choice

The long run is the period of time during which _____

• A) real wage is exactly equal to nominal wage.
• B) inflation is zero.
• C) excess aggregate demand leads to a shortage.
• D) real wages are constant.
• E) all resource prices are variable.

---

Definitions:

Beyond a Reasonable Doubt

The highest standard of proof required in a criminal case, indicating that there is no plausible reason to believe otherwise than the defendant is guilty.

Circuit Courts

Courts that have appellate jurisdiction and cover a particular geographical area in the United States, also hearing a wide range of civil and criminal cases at the federal level.

Federal Court System

The judicial branch of the United States government, consisting of various levels of courts including the Supreme Court, appellate, and district courts.

Bankruptcy Court

A specialized court that deals with cases involving individuals or businesses that cannot pay their debts.