Real business cycle theory emphasizes the effect of ________ on real GDP.
A) government spending
B) the money supply
C) aggregate supply shocks
D) aggregate demand shocks
Correct Answer:
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Q211: Adding the assumption of pure competition and
Q212: According to a theory that relies on
Q213: The policy irrelevance proposition states that
A) only
Q214: Q215: Those who accept both the rational expectations Q217: According to the theory based on rational Q218: The policy irrelevance proposition suggests that the Q219: The rational expectations hypothesis is based on Q220: The hypothesis suggesting that people combine the Q221: During the 1960s, many Keynesian economists felt
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