The Duration of the "Short-Run

question 99

Multiple Choice

The duration of the "short-run"

• A) is one year.
• B) is the same for all goods.
• C) depends on the relative short-run elasticity of demand and supply for the good.
• D) depends on how long it takes consumers or firms to adjust for a particular good.

---

Definitions:

Euro

The official currency of the eurozone, which consists of 19 of the 27 European Union member states.

Hong Kong Dollars

The currency of Hong Kong, denoted as HKD, which is used in financial transactions within the region.

Swedish Krona

The formal monetary unit of Sweden, known as SEK.

Inflation Rate

The level of acceleration in the general cost of goods and services, weakening the purchasing capacity.