The Theory That Real Shocks to the Economy Are the Primary

question 49

Multiple Choice

The theory that real shocks to the economy are the primary cause of business cycles is

• A)monetarism.
• B)Keynesian theory.
• C)real business cycle theory.
• D)Hamiltonian theory.

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Definitions:

Governing Empire

The administration and rule over a vast territory comprising many nations or peoples, typically by a single sovereign authority or government, often marked by colonial expansion.

Seven Years' War

A worldwide war that occurred from 1756 to 1763, engaging the major world powers of that era and impacting regions including Europe, North America, Central America, the coast of West Africa, India, and the Philippines.

British Government

The central government of the United Kingdom, responsible for creating laws, administering public services, and conducting foreign relations.