Real-Business-Cycle Theorists Have Argued That Changes in the Money Supply

question 24

True/False

Real-business-cycle theorists have argued that changes in the money supply do not affect output.

---

Definitions:

Replicable

Describes a study or experiment whose results can be achieved again when the study is repeated under the same conditions.

Replicable

Capable of being repeated or duplicated under similar conditions to achieve a similar result.

Independent Variables

Variables in a scientific experiment that are manipulated or changed by the researcher to determine their effect on the dependent variable.

Clever Hans

Refers to a case study from early 20th century of a horse that was claimed to perform arithmetic and other intellectual tasks, later found to be responding to involuntary cues from humans.