Which of the following would NOT cause a real business cycle?
A. a change in technology
B. a change in the composition of the labor force
C. a sustained change in the price of oil
D. a change in the money supply
Answer: D
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Refer to Figure 4.7. You should definitely not ask for points if you believe that ________ of your classmates have asked for points
A) none B) less than five C) five or more D) between one and three
A product whose production requires a relatively high capital-labor ratio is
a. capital abundant b. capital intensive c. heavy industry d. high tech e. all of the above
Monoploy
What will be an ideal response?
Other things held constant, the lower the price of a good
A. the higher the supply. B. the lower the producer surplus. C. the greater the producer surplus. D. the lower the supply.