In Real-Business-Cycle Theory, Real Output Can Change Without a Change

question 245

True/False

In real-business-cycle theory, real output can change without a change in the price level.

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Definitions:

Second Generation

Individuals born in a country to immigrant parents, often facing unique cultural and identity challenges between their family's heritage and the culture of their birth country.

Present Immigrants

Refers to the current generation or cohort of immigrants residing in a country, distinct from past waves of immigrants.

Past Immigrants

Individuals who have migrated to a new country from their homeland in previous periods, often shaping the demographic and cultural landscape of the new place.

Noncitizens

Individuals who do not hold citizenship in the country in which they live, often subject to different legal rights and obligations than citizens.