Which business cycle theory emphasizes that, because of previously negotiated wage agreements, both expected and unexpected fluctuations in aggregate demand can change real GDP?
A) the new classical cycle theory
B) the monetarist cycle theory
C) the new Keynesian cycle theory
D) the real business cycle theory
E) the Keynesian cycle theory
Correct Answer:
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Q1: Both new Keynesian and new classical cycle
Q3: Which of the following are business cycle
Q4: The _ cycle theory states that only
Q5: According to _ theory, a decrease in
Q6: Which of the following is not a
Q7: The key ripple effect in real business
Q8: According to the real business cycle theory,
Q9: New Keynesian economists believe that _ is
Q10: The factor leading to business cycles in
Q11: _ states that the main source of
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