Question

Activists believe that ________. it takes a very long time to reach the long run frictions to the self-correcting mechanism of markets prevent prices and wages from being very flexible Keynes was right with his statement "in the long-run, we are all dead" all of the above none of the above

Answer 1

Answer: All of the above

Explanation:

The Long run is a period of time where all the factors of production of a firm are variable. For example, a firm can establish a bigger factory. It takes a longer period of time than the short run.

John Maynard Keynes also believed that in the long run, we are all dead. Also, an economy will self-correct because shocks matter in the short run and not the long run. The self-correction mechanism talks about price adjustment. When there is a shock, prices will adjust and the economy will be brought back to the long-run equilibrium.

Answer 2

Answer:

All of the above.

Explanation:

Activism is used in both politically and also in academic research. Its usage academically means only the willingness of a judge to strike down the action of a certain branch of government or to overturn a judicial precedent, with no implied judgment as to whether the activist decision is correct or not.

Therefore in the scenario above, activism totally believes that it takes a very long time to reach the long run. Their research also welcomes that frictions to the self-correcting mechanism of markets prevent prices and wages from being very flexible. And aslo that Keynes was right with his statement "in the long-run, we are all dead".