Changes in total factor productivity are plausible causes of business cycles because productivity-induced business cycles correctly predict
A) real wages and total hours must be procyclical.
B) real wages and consumption must be procyclical.
C) total hours worked and consumption must be procyclical.
D) consumption and government spending must be procyclical.
B
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Which of the following situations is clearly and unambiguously descriptive of a positive externality?
A. Jack feels better after his daily walk. B. Joriel studies harder than anyone in his class. C. Professor Gomez gave an unannounced quiz to her history class yesterday. D. The President of the United States yesterday signed a legislative act that is very popular in the country. E. none of the above
The Troubled Asset Relief Program (TARP) totaled ____ and the fiscal stimulus package of 2009 totaled ____.
A. $1.4 trillion; $800 billion B. $1.4 trillion; $700 billion C. $700 billion; $800 billion D. $700 billion; $1.4 trillion