To Support the RBC Approach According Which Productivity Shocks Generate

question 12

Multiple Choice

To support the RBC approach according which productivity shocks generate inflation and recession at the same time,the RBC theorists argue that

• A)the conventional approach that inflation is procyclical is consistent with the pre-World War II economy.
• B)the structure of the economy and the types of shocks have changed since the Great Depression.
• C)the oil supply shocks in the 1970s caused the price level to rise while output fell.
• D)all of the above.

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Definitions:

Effect Size

A quantitative measure describing the strength of a relationship between two variables.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values from the mean or average.

Dollar Value

The worth of something expressed in terms of the amount of money it can be exchanged for.

Kirkpatrick's Model

A method for assessing the effectiveness of training programs through four distinct levels: Reaction, Learning, Behavior, and Results, emphasizing the importance of evaluating multiple aspects of training.