The major difference between short-term macroeconomic theory and long-run macroeconomic theory is:
a. Short-term theory focuses mainly on demand-oriented factors, and long-run theory focuses mainly on supply-oriented factors.
b. Short-term theory focuses mainly on supply-oriented factors, and long-run theory focuses mainly on demand-oriented factors.
c. Short-term theory focuses mainly on financial markets, and long-run theory focuses mainly on the real goods market and the foreign exchange market.
d. Short-term focuses mainly on the real goods market and foreign exchange market, and long-run theory focuses mainly on the financial markets.
e. Short-term theory focuses mainly on the role government has in an economy, and long-run theory focuses mainly on the role financial and real markets have on the real goods market.
.A
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A weak U.S. dollar is one that has:
a. c and e. b. d and e. c. depreciated. d. appreciated. e. helped U.S. exporters.
"In the long run, a perfectly competitive firm's average total cost is always below the market clearing price." Agree or disagree? Why?
What will be an ideal response?