by 
JimmyG
ANSWERS: 1
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A compile-time constant is embedded directly into the code at compile time -- i.e. the value is directly substituted into the emitted code at every place where it's referenced. A run-time constant has a specific memory location which is referenced when needed, and the value is protected only by the semantics of the language: i.e. you can't write code which modifies it at runtime without advanced trickery.
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