​A Steady State

question 21

Multiple Choice

​A steady state

• A)​is a short­run equilibrium which describes what the exogenous variables in a model will do if they are not disturbed by any other variable in the model.
• B)​​is a short­run equilibrium which describes what the endogenous variables in a model will do if they are not disturbed by any other variable in the model.
• C)​is a long­run equilibrium which describes what the exogenous variables in a model will do if they are not disturbed by any other variable in the model.
• D)​​is a long­run equilibrium which describes what the endogenous variables in a model will do if they are not disturbed by any other variable in the model.

---

Definitions:

Willingness

The state of being prepared to engage in a particular action or process.

Decisions

The act of making a choice from among various options in the face of uncertainty or multiple possibilities.

Social Context

The environment of people, cultures, institutions, and norms that shape individuals' social interactions and behaviors.

Negotiators Interact

The process by which individuals engaged in negotiations communicate and respond to each other to reach an agreement.