In macroeconomics,the long run is determined by:
A)how long it takes for prices to adjust through the whole economy.
B)how long it takes for firms to vary all input quantities.
C)the longest contract length of a business.
D)None of these is true.

Question

Quizplus · Accepted Answer

In the long run, all input quantities can be varied, so choice B is incorrect. The longest contract length of a business is not relevant to the long run in macroeconomics, so choice C is incorrect. Choice D is incorrect because choice A is correct.

In Macroeconomics,the Long Run Is Determined By