In the Short Run, Total Spending Affects ________, and in the Long

question 105

Multiple Choice

In the short run, total spending affects ________, and in the long run total spending affects ________.

• A)prices; output
• B)prices; unemployment
• C)output; prices
• D)output; unemployment

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Definitions:

Age

A measure of the length of time that an individual or object has existed, often expressed in years.

Change

The process or act of making or becoming different, which can occur in various contexts such as behavior, environment, or perception.

Cross-sectional Method

A research design that examines a group of individuals of different ages or stages at a single point in time.

Longitudinal Method

A developmental research method in which the same persons are observed repeatedly as they grow older; conceptually similar to a repeated measures design.