According to Progressives, what is the most important factor in causing business cycles?
A) Business cycles are caused by external shocks to the economy.
B) Business cycles are caused by misguided government policies.
C) Business cycles are caused by the drive for profits.
D) Business cycles are caused by technological change.
Correct Answer:
Verified
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
Q10: Robert Lucas, a well-known University of Chicago
Q11: What is "real business cycle theory"?
A) Outside
Q12: How are profits calculated?
A) Profits = Revenue-Costs
B)
Q14: According to Progressives, what happens during a
Q15: According to Progressives, what causes the expansion
Q16: According to Progressives, what is occurring at
Q17: According to Progressives, what are the four
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