Which answer below best describes the difference between the short-run and long-run aggregate supply curves as they relate to the price level. OA. The short-run is a period where all input prices are variable. The long-run is a period where some resource prices cannot be changed. OB. The short-run is a period where some input prices cannot be changed. The long-run is a period where all prices are variable. O C. The short-run is a period less than one year. The long-run is a period over a year. OD. There is no difference between the short-run and long-run.

Which answer below best describes the difference between the short-run and long-run aggregate supply curves as they relate to the price level. OA. The short-run is a period where all input prices are variable. The long-run is a period where some resource prices cannot be changed. OB. The short-run is a period where some input prices cannot be changed. The long-run is a period where all prices are variable. O C. The short-run is a period less than one year. The long-run is a period over a year. OD. There is no difference between the short-run and long-run.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 3CQQ

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