Real business cycle theory emphasizes the role of ________ in causing economic fluctuations
A) agriculture
B) technological change
C) natural disasters
D) wars
B
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Unlike the market process, in the political market it is possible for some individuals to receive very large benefits from the political process without any significant impact on their tax bills
Indicate whether the statement is true or false
When wages increase: a. the quantity of labor supplied by an individual always increases. b. the quantity of labor supplied by an individual always decreases. c. the opportunity cost of leisure time increases
d. the opportunity cost of leisure time decreases.
At some point during the financial crisis of 2008–2009, people with uninsured deposits at financial institutions withdrew money from their accounts at those institutions. This phenomenon characterized which element of the financial crisis?
a. the decline in confidence in financial institutions b. the credit crunch c. the economic downturn d. the decline in asset prices
Agricultural subsidies are known to cause overproduction and create other problems. Are there benefits from such subsidies? Explain
What will be an ideal response?