Critics of real business cycle theory point out each of the following as problems except
A) in the economy as a whole, total work hours decrease because some people become unemployed, not because most individuals work less hours.
B) in the economy as a whole, total work hours decrease because most individuals work less hours, not because some people become unemployed.
C) the unemployment rate fluctuates substantially over the business cycle.
D) high unemployment in a recession is not a market-clearing phenomenon.
Correct Answer:
Verified
Q20: According to real business cycle theorists, hours
Q21: According to real business cycle theorists, each
Q22: According to real business cycle theorists, each
Q23: According to real business cycle theorists, each
Q24: According to real business cycle theorists, each
Q26: According to real business cycle theorists,
A) production
Q27: According to real business cycle theorists, each
Q28: According to real business cycle theorists, each
Q29: Critics of real business cycle theory have
Q30: Real business cycle theorists tend to argue
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