In Macroeconomics, the Long Run Refers To

question 68

Multiple Choice

In macroeconomics, the long run refers to:

• A) how long it takes for prices of inputs to fully adjust to changes in economic conditions.
• B) the time period when sticky wages are in place.
• C) how long it takes for output decisions to adjust to changes in economic conditions.
• D) how long it takes for fixed inputs to become variable.

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Definitions:

Title Block

A section of a drawing or document reserved for information about the drawing, typically including the drawing number, project name, and specific details about the drawing's creation and revision history.

Lettering

The act or process of adding letters or inscriptions to objects, documents, or surfaces, often for identification, decoration, or communication purposes.

Quarter Scale

A scale in which 1/4 inch on the drawing represents 1 inch on the actual object.