In the long run, the expansion path is

In Keynes's liquidity preference framework, as the expected return on bonds increases (holding everything else unchanged), the expected return on money ________, causing the demand for ________ to fall

A) falls; bonds B) falls; money C) rises; bonds D) rises; money

Labor is typically assumed to be the only variable input in very short-run production systems, and the number of variable inputs increases as we lengthen our planning horizon from short run to long run

What happens to the labor demand curve as we move from short run to long run? A) Demand curve becomes less elastic B) Demand curve elasticity does not change C) Demand curve becomes more elastic D) Demand curve becomes upward sloping