In Real Business Cycle Theory, All of the Following Events

question 110

Multiple Choice

In real business cycle theory, all of the following events can be sources of fluctuations in productivity EXCEPT .

• A) climate fluctuations
• B) the pace of technological change
• C) the growth rate of money
• D) natural disasters

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Definitions:

Constitution

The fundamental principles or established precedents according to which a state or other organization is governed.

Democracy

A form of government in which the highest power in the state is invested in the people and exercised directly by them or, as is generally the case in modern democracies, by their elected officials.

Legitimate Government

A government that is recognized as the rightful authority, often based on its adherence to laws, norms, and the consent of the governed.

Libertarianism

A political philosophy that emphasizes freedom, autonomy, and voluntary association, with a significant focus on individual rights and minimal government intervention.