Since a Long Run Consists of Many Short Runs,the Classical

question 82

Multiple Choice

Since a long run consists of many short runs,the classical model is

• A) incorrect every time we look at output data
• B) accurate during the short run
• C) paradoxically quite accurate in the long run;however,it is not very accurate in the short run
• D) our best guide to fluctuations in the economy
• E) paradoxically quite accurate in the short run;however,it is not very accurate in the long run