When RBC Economists Compare the Volatility in Their Models to the Data,what

question 26

Multiple Choice

When RBC economists compare the volatility in their models to the data,what are they looking at?

• A)the degree to which variables lead output over the business cycle
• B)the strength of procyclicality of different variables
• C)the amount of random variation in economic variables
• D)the degree to which different economic variables move together

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Definitions:

Skilled Labour

Workers who have specialized training or expertise in a specific field or occupation, often requiring formal education or apprenticeship.

Braverman

Reference to Harry Braverman's work on the labor process and the critique of the de-skilling of jobs in capitalist societies, emphasizing the impacts of capitalist organization of work.

Anti-bullying Culture

A social environment and set of norms that discourages bullying behavior and promotes respect and kindness among individuals.

Hawthorne Plant

A reference to a series of studies conducted at the Western Electric Hawthorne Works, which contributed to the understanding of workplace productivity and human behavior.