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

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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) short-run equilibrium.
b) a period of time longer than one year.
c) the short run.
d) the long run.
e) equilibrium.

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