Multiple Choice
According to the real business cycle theory, technological advances:
A) increase the productivity of labor, which causes real wages and output to decline.
B) increase the productivity of labor, which causes real wages and output to increase.
C) increase the productivity of labor, which causes real wages to increase and output to decline.
D) decrease the productivity of labor, which causes real wages and output to increase.
Correct Answer:
Verified
Correct Answer:
Verified
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