6 When decision-makers have time to fully adjust to changes in the overall price level,we refer to this asa) equilibrium.b) the short run.Oc) a period of time longer than one year.O d) the long run.O e) short-run equilibrium.

In Economics, Long-run and Short-run are the concepts related to the market where the equilibrimity…

When decision-makers have time to fully adjust to changes in the overall price level, we refer to this as O a) equilibrium. O b) the short run. Oc) a period of time longer than one year. d) the long run. e) short-run equilibrium.

When decision-makers have time to fully adjust to changes in the overall price level, we refer to this as O a) equilibrium. O b) the short run. Oc) a period of time longer than one year. d) the long run. e) short-run equilibrium.

Macroeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506756

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter10: Dynamic Change, Economic Fluctuations, And The Ad-as Model

Section: Chapter Questions

Problem 9CQ

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Question

When decision-makers have time to fully adjust to changes in the overall price level,
we refer to this as
a) equilibrium.
b) the short run.
Oc) a period of time longer than one year.
O d) the long run.
O e) short-run equilibrium.

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