The Macroeconomic Theory That Because Workers and Firms Take All

question 22

Multiple Choice

The macroeconomic theory that because workers and firms take all information into account, only unexpected changes in the money supply affect aggregate output is called _____ theory.

• A)real business cycle
• B)rational expectations
• C)new classical
• D)supply-side

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Definitions:

Ethnographic

Pertaining to the systematic study and documentation of peoples and cultures with respect to their histories, behaviors, and the significant differences among them.

Paleoanthropological

Relating to the study of the origins and predecessors of the present human species, focusing on the fossil record and artifacts.

Ethnology

The comparative study of cultures and peoples, including their customs, habits, and mutual differences.

Culture Groups

Clusters of individuals who share the same cultural practices, norms, and values, distinguishing them from other groups within a larger society.