The difference between traditional theories of the business cycle and real business cycle theory is the
a. emphasis they place on the government's role in the economy
b. ideas they hold about the importance of investment in influencing the economy's growth path
c. ideas they hold about the importance of technology in influencing the economy's growth path
d. emphasis they place on the timing of the cycle
e. way they define GDP and full employment, which means they describe the same events quite differently
A
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Which of the following statements is most accurate about human brain modularity?
A. System 1 uses heuristics, system 2 is more calculating, and both are equally important in decision making. B. Both systems regularly use both heuristics and conscious calculations, and both are equally important in decision making. C. System 1 uses heuristics, system 2 is more calculating, and system 2 regularly overcomes system 1's heuristics to make decisions. D. System 1 uses heuristics, system 2 is more calculating, and most decisions are made by system 1.
The value of money is based on
a. the amount of gold backing the money. b. its designation by the government as legal tender. c. the level of interest rates. d. the goods and services that a given amount of money will buy.