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Ao9 Ao9
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Posts: 1908
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6 years ago
According to New Keynesian theory, fluctuations in the target interest rate are not a good explanation of the business cycle because the model predicts that
A) labor is countercyclical.
B) average labor productivity is countercyclical.
C) consumption is constant.
D) output is countercyclical.
Textbook 

Macroeconomics


Edition: 5th
Author:
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GordisGordis
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Posts: 1906
6 years ago
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Ao9
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