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6 years ago
According to the real business cycle theory, the supply side shock from dramatic increases in oil prices in the 1970s led to higher unemployment because
A) when the real wage, W/P, fell, workers chose leisure.
B) when the real wage, W/P, rose, workers chose leisure.
C) workers increase Pe.
D) None of the above.
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Macroeconomics

Macroeconomics


Edition: 12th
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thecromthecrom
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6 years ago
Thank you for helping me all throughout my semester
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