In the new Keynesian business cycle theory, ________ can effect real GDP.
A) only expected changes in aggregate demand
B) expected and unexpected changes in aggregate demand
C) only unexpected changes in aggregate demand
D) only unexpected changes in the money wage rate
Correct Answer:
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Q53: According to the new classical theory, _
Q54: Which of the following CORRECTLY describes the
Q55: The key difference between the new classical
Q56: Which business cycle theory emphasizes that, because
Q57: Which theory distinguishes between expected and unexpected
Q59: One assumption of the new classical model
Q60: A key difference between the new classical
Q61: The real business cycle theory asserts that
Q62: Suppose the data show that an unexpected
Q63: Real business cycle (RBC) theory predicts that
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