According to the real business cycle theory, technological change
A) is increasing in recent years at an increasing rate.
B) happens only occasionally.
C) occurs at a constant rate.
D) happens at an uneven pace.

Question

Quizplus · Accepted Answer

According to the real business cycle theory, technological change happens at an uneven pace, rather than at a constant rate or only occasionally. While there may be periods of rapid technological advancement, there may also be periods of little or no technological change.

According to the Real Business Cycle Theory, Technological Change