Real Business Cycle Theory Argues That

question 253

Multiple Choice

Real business cycle theory argues that:

• A) changes in inventories are the cause of the business cycle.
• B) fluctuations in the rate of growth of total factor productivity cause the business cycle.
• C) aggregate demand is more important than aggregate supply in identifying the causes of the business cycle.
• D) changes in the money supply are the primary cause of the business cycle.

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Definitions:

Strategic Human Resource Management

The proactive management of people, aligning the workforce with the strategic objectives of the company.

HRM Process

The series of systematic steps undertaken by a human resources department to recruit, hire, manage, and develop a company's employees.

Human Capital

Represents the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Human Resource Planning

The ongoing process of systematically planning ahead to optimize and meet the future human resource needs of an organization, in alignment with its strategic goals.