Refer to the Following Model

Multiple Choice

Refer to the following model. y_t = α₀ + β₀s_t+ β₁s_t-1 + β₂s_t-2+ β₃s_t-3 + u_t
Β₀ + β₁ + β₂ + β₃represents:

A) the short-run change in y given a temporary increase in s.
B) the short-run change in y given a permanent increase in s.
C) the long-run change in y given a permanent increase in s.
D) the long-run change in y given a temporary increase in s.