When Decision Makers Have Time to Fully Adjust to Changes

question 10

Multiple Choice

When decision makers have time to fully adjust to changes in the overall price level,we refer to this as

• A) the short run.
• B) the long run.
• C) short-run equilibrium.
• D) a period of time longer than one year.
• E) equilibrium.

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Definitions:

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Polarity

A property of molecules showing the distribution of electrical charge, leading to molecules having a positive end and a negative end.

Lock And Key Model

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