One implication of the Keynes quote, "In the long run we are all dead," is:
A) the economy is always in its long-run equilibrium
B) we know with certainty what the long run is
C) the long run is made up of a sequence of short runs
D) there is no difference between the long and short runs
E) there is no short run

Question

Quizplus · Accepted Answer

The quote implies that the long run is made up of a sequence of short runs, emphasizing the importance of focusing on short-run economic policies and decisions. It suggests that waiting for the long run before taking economic actions may not be the most effective approach.

One Implication of the Keynes Quote, "In the Long Run