A Difference Between the Economic Long Run and the Short

question 116

Multiple Choice

A difference between the economic long run and the short run is that:

• A) the classical dichotomy holds in the short run but not in the long run.
• B) monetary and fiscal policy affect output only in the long run.
• C) demand can affect output and employment in the short run, whereas supply is the ruling force in the long run.
• D) prices and wages are sticky in the long run only.

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