Real Business Cycle Theory Assumes Complete Price and Wage Flexibility

question 139

True/False

Real business cycle theory assumes complete price and wage flexibility.

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Definitions:

Contributorily Negligent

A legal doctrine under which an injured party's own negligence contributing to their injury reduces or eliminates their ability to recover damages.

Employer

An individual or organization that hires and pays people to work for them under an expressed or implied contract of employment.

Employee

An individual who provides services to an employer under an expressed or implied contract of hire, for which the employer pays wages or salary.

Fair Labor Standards Act of 1938

United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards.