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In the long run,   the economy has gone through a full business cycle.   at least five years have passed.   some prices have adjusted.   all prices have adjusted.   the majority of firms are making a profit.

In the long run,   the economy has gone through a full business cycle.   at least five years have passed.   some prices have adjusted.   all prices have adjusted.   the majority of firms are making a profit.

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Question 25
 

In the long run,

 

  1. the economy has gone through a full business cycle.

     

  2. at least five years have passed.

     

  3. some prices have adjusted.

     

  4. all prices have adjusted.

     

  5. the majority of firms are making a profit.

     
    Question 26
     

    In the long run, the output of an economy

     

    1. does not grow.

       

    2. grows at a positive rate.

       

    3. depends on aggregate demand.

       

    4. is equal to full-employment output.

       

    5. depends on the price level.

       
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