One Reason Why an Economy May Not Smoothly Adjust to a Macroeconomic

question 38

Multiple Choice

One reason why an economy may not smoothly adjust to a macroeconomic shock is that

• A) prices are flexible in the long run.
• B) prices are sticky in the short run.
• C) wages are sticky in the long run.
• D) prices and wages are sticky in the long run.

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Definitions:

Part-Time JANITOR

An individual employed to clean and maintain a building or facilities for less than the customary full-time working hours.

First Job

The initial employment position one has, marking the start of their professional career.

Career Center

A facility or office, often associated with academic institutions, providing resources, counseling, and support for job search and career development.

Career

A profession or field of employment that one pursues, often involving progression and development over time.