Real business cycle theory is not a theory about cycles. Explain.
Answer to relevant QuestionsCalculate the following rates of unemployment and size of the labor force from the following data: frictional unemployment = 20; structural = 30; cyclical = 40; discouraged workers = 10; under employed = 25; employed workers ...What is/are the difference(s) between changes in real GDP and changes in real per capital GDP? How has world real per capita GDP changed over the past two millennia? Compare the per capita growth achievements by region. Why do we need money? What is meant by the fractional reserve system? Why is it fundamental to modern banking? Suppose the Federal Reserve raised the reserve requirement to 50 percent. Show how that would affect the value of money creation through the first 5 stages of deposit and loan in practice problem 1.
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