In Their Study on Business Cycles,Backus and Kehoe Found

Multiple Choice

In their study on business cycles,Backus and Kehoe found

A) correlations amongst real economic variables differed greatly among countries.
B) price level was consistently procyclical.
C) no consistent correlations amongst economic variables.
D) price level was consistently countercyclical.
E) correlations amongst real economic variables were similar across countries and over time.