Robert Lucas, a well-known University of Chicago economist and winner of the 1995 Nobel Prize, argued that shocks to the economy come primarily from
A) forces internal to the capitalist system.
B) mistakes by government.
C) technological change.
D) major shifts in commodity prices.
Correct Answer:
Verified
Q5: Business cycles
A) occur in every type of
Q6: What is a business cycle?
A) The length
Q7: What is an "expansion?"
A) An increase in
Q8: What is a "contraction"?
A) A downturn in
Q9: During the twentieth century, the United States
Q11: What is "real business cycle theory"?
A) Outside
Q12: How are profits calculated?
A) Profits = Revenue-Costs
B)
Q13: According to Progressives, what is the most
Q14: According to Progressives, what happens during a
Q15: According to Progressives, what causes the expansion
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