Research by Amaral and MacGee find evidence that for the Great Depression,
A) total factor productivity played a more important role than sticky prices.
B) modern theories of the business cycle perform poorly.
C) sticky prices played a more important role than total factor productivity.
D) deflation was the most important factor.
E) total factor productivity was largely irrelevant.

Question

Quizplus · Accepted Answer

Amaral and MacGee's research suggests that total factor productivity had a more significant impact on the Great Depression than sticky prices.

Research by Amaral and MacGee Find Evidence That for the Great