Which of the following would not shift the aggregate supply curve?
A. An increase in labor productivity.
B. A decline in the price of imported oil.
C. A decline in business taxes.
D. An increase in the price level.
D. An increase in the price level.
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You see on the news that a recession has started in Saudi Arabia. Which of the following would happen in the market for Saudi riyals?
a. A decrease in the supply of riyals and an appreciation of the riyal. b. An increase in the supply of riyals and a depreciation of the riyal. c. A decrease in the supply of riyals and a depreciation of the riyal. d. An increase in the supply of riyals and an appreciation of the riyal. e. Cannot be determined without additional information.
Briefly compare and contrast the business cycle theory of Joseph Schumpeter and the real business cycle theory