Research by Amaral and MacGee Find Evidence That for the Great

Multiple Choice

Research by Amaral and MacGee find evidence that for the Great Depression,

A) total factor productivity played a more important role than sticky prices.
B) modern theories of the business cycle perform poorly.
C) sticky prices played a more important role than total factor productivity.
D) deflation was the most important factor.
E) total factor productivity was largely irrelevant.