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- According to the Austrian business cycle theory, a key feature of a deflationary depression is A) an increase in money and credit B) unrepayable debts lead to financial system losses C) businesses that are too big to fail must be subsidized D) higher pricesMillions of Americans were unemployed in 2020 largely for ____________ reasons. The Wall Street Journal reports that many jobs, like daily hotel room cleaning, could be gone forever. The result could lead to _________ rates of _________ unemployment over time. Structural; higher; frictional Frictional; lower; structural Cyclical; higher; structural Natural; lower; cyclical Cyclical; higher; frictionalWhat is likely to be true at the trough of the business cycle? A. Real GDP, unemployment, and inflation are all likely to increase. B. Real GDP is increasing, unemployment is decreasing, and inflation is increasing. C. Real GDP, unemployment, and inflation are all likely to decrease. D. Real GDP is decreasing, unemployment is increasing, and inflation is steady or decreasing.
- ) Real business cycle (RBC) theorists agree that agents optimize and that markets clear, meaning that business cycles are an equilibrium condition. What are some of the criticisms of real business cycle theory?The natural rate of unemployment will not change following an increase in ________ unemployment. cyclical frictional structural All of theseWhat is likely to be true at the peak of the business cycle? A. Real GDP, unemployment, and inflation are all likely to increase. B. Real GDP is increasing, unemployment is decreasing, and inflation is increasing. C. Real GDP, unemployment, and inflation are all likely to decrease. D. Real GDP is decreasing, unemployment is increasing, and inflation is steady or decreasing.
- How does Philip's Curve Theory applies to the relationship of Inflation Rate, Employment Rate and Gross Domestic Product positively?Q.1.18 During an economic expansion, real GDP ____ and unemployment ____. (a) increases, increases(b) increases, decreases(c) decreases, increases(d) decreases, decreasesQ.1.19 Individuals leave the labour force when they: (a) find employment.(b) become unemployed.(c) retire.(d) work in the informal sector. Q.1.20 A pattern of expansions and downswings discerning economic activity over a number of years is known as:(a) cyclical instability.(b) economic growth.(c) business cycle.(d) business cycle indicators.The real business cycle theory assumes that money wages are flexible and adjust quickly True Fasle
- According to the _____ theory of business cycles, a change in the growth rate of the quantity of money has no effect on real GDP. a. new Keynesian b. real business cycle c. Keynesian d. monetaristThe part of the business cycle in which output, or Real GDP, increases and cyclical unemployment decreases is theWhich of the following are business cycle theories that regard fluctuations in aggregate demand as the factor that is creating business cycles? I) Keynesian cycle theory II) Real business cycle theory III) Monetarist cycle theory Select one: (a) I, II and III (b) I and II (c) I and III (d) I only