In macroeconomics, the long run refers to:
A) one year.
B) two years.
C) ten years.
D) None of these are true.

Name: In macroeconomics, the long run refers to: A) one year. B) two years. C) ten years. D) None of these are true.
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Question

Quizplus · Accepted Answer

In macroeconomics, the long run is a period in which all factors of production and costs are variable, and firms can enter or exit the industry. It does not specify a fixed number of years, making the specific time-based options (A, B, C) incorrect.

In Macroeconomics, the Long Run Refers To