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Question: Explain which business cycle theory subscribes to each one of the following, a) Workers are worried about their position relative to other
Question:
Explain which business cycle theory subscribes to each one of the following,
a) Workers are worried about their position relative to other workers, and do not accept wage cuts in recessions?
b)Recessions force relatively unproductive firms out of the economy.?
c) Business cycles are caused by misguided government policies.?
d) Business cycles are driven by changes in productivity.?
e) Business cycles are driven by fluctuations in the expectations of the entrepreneurs regarding the future levels of business activities.?
f)Business cycles are driven by changes in aggregate demand, which are, in turn, caused by fluctuations in government spending.?
g) Governments should intervene to stabilize recessions; otherwise the economy will head into even more severe recessions.?
