Multiple Choice
Suppose there is an oil supply shock to the Canadian economy due to an embargo.According to the real business cycle theory,the supply shock
A) would increase the rate of unemployment in the long run.
B) would decrease the rate of unemployment in the long run.
C) not have any long term effect on the labour market.
D) would cause economywide deflation.
Correct Answer:
Verified
Correct Answer:
Verified
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