In macroeconomics, the "long run" denotes the time period:
A) within the same fiscal year.
B) when all prices fully adjust.
C) when some prices are sticky.
D) less than one year.

Question

Quizplus · Accepted Answer

The long run in macroeconomics is defined as the time period in which all prices are fully adjustable. This can range from several years to even decades, depending on the specific macroeconomic factors at play. Choices A, C, and D do not accurately reflect the definition of the long run in macroeconomics.

In Macroeconomics, the "Long Run" Denotes the Time Period