Business Cycle Events That Arise Solely from Aggregate Demand Shifts

question 169

Multiple Choice

Business cycle events that arise solely from aggregate demand shifts are emphasized by the

• A) Keynesian and monetarist cycle theories.
• B) monetarist and real business cycle theories.
• C) Keynesian and real business cycle theories.
• D) none of the major theories

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Definitions:

Respondeat Superior

A legal doctrine holding an employer or principal legally responsible for the wrongful acts of an employee or agent, if such acts occur within the scope of employment or representation.

Tort Liability

Tort liability arises from the breach of a duty primarily fixed by law; this responsibility usually relates to harm caused by negligence, intentional acts, or under strict liability principles.

Comparative Negligence

The contemporary replacement for the traditional doctrine of contributory negligence. The basic idea is that damages are apportioned between the parties to a negligence action in proportion to their relative fault. The details vary from state to state.

Plaintiff's Negligence

Situations in a lawsuit where the individual bringing the case (plaintiff) is also found to have been careless or negligent, potentially reducing their compensation.