According to the Real Business Cycle Theory, Technological Advances

question 63

Multiple Choice

According to the real business cycle theory, technological advances:

• A) increase the productivity of labor, which causes real wages and output to decline.
• B) increase the productivity of labor, which causes real wages and output to increase.
• C) increase the productivity of labor, which causes real wages to increase and output to decline.
• D) decrease the productivity of labor, which causes real wages and output to increase.

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Definitions:

Planned Change

A deliberate effort to improve a system, process, or outcome through structured methods and strategies.

Self-Renewal

The ability of individuals or organizations to adapt, evolve, and innovate continuously, fostering long-term sustainability and resilience.

Force-Coercion Strategies

Tactics used to compel or manipulate individuals or groups into compliance or agreement through the application of power, threats, or pressure.