One Major Difference Between the Short-Run and Long-Run Macroeconomic Analysis

question 24

Multiple Choice

One major difference between the short-run and long-run macroeconomic analysis is that:

• A)in the short-run prices are fully flexible while in long-run they are not.
• B)in the short-run prices are sticky while in long-run they are fully flexible.
• C)in the short-run stickiness of prices would guarantee the long-run price inflexibility.
• D)the price stickiness in the long-run guarantees the flexibility of prices in the short-run.

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Definitions:

Fast-Mapping

The speedy and sometimes imprecise way in which children learn new words by tentatively placing them in mental categories according to their perceived meaning.

Word Mapping

A process in language learning where individuals link words to their meanings, facilitating vocabulary expansion and comprehension.

Mental Language

Refers to the representation of thoughts and knowledge in the mind, often conceptualized as an internal code or language used for thinking and reasoning.

Word Charting

A technique used in language studies to track and analyze the occurrence and frequency of words or phrases in a given context.