What does the Keynesian model predict about the cyclical behavior of average labour productivity? How does the

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What does the Keynesian model predict about the cyclical behavior of average labour productivity? How does the idea of labour hoarding help bring the prediction of the model into conformity with the business cycle facts?

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Macroeconomics

ISBN: 978-0321675606

6th Canadian Edition

Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone

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Question Posted: Apr 01, 2016 03:55 AM

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What does the Keynesian model predict about the cyclical behavior of average labour productivity? How does the

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The Keynesian theory assumes that demand shocks cause most cyclical fluctuations This means that dur...View the full answer

Macroeconomics

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