Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

thinking in the long run has its advantage as the economy can shift so quickly in the short run that it's hard to keep up

thinking in the long run has its advantage as the economy can shift so quickly in the short run that it's hard to keep up and predict what exactly will happen, while in the long run you have an idea of where the economy will end up. In the short run, inflation may rise causing unemployment to drop and vice versa in short bursts, but looking in the long run, they bounce back and forth so they level out

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Driven Technology

Authors: Paige Baltzan

5th edition

978-007337684, 9780077419318, 73376841, 77419316, 978-0073376844

More Books

Students also viewed these Economics questions

Question

What are the adaptive strategies?

Answered: 1 week ago

Question

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago