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Nilanjan Bhowmick AIR 3, CSIR NET (Earth Science)
- UGC NET
- Economics
58. which of the following statement about classical theory pf employment is not true ? (1) it treats saving as real leakage (2) it believes that real wage is e
58. Which of the following statement about classical theory pf employment is not true ? (1) It treats saving as real leakage (2) It believes that real wage is equal to marginal productivity of labour in equilibrium (3) It argues that money is not an asset (4) It claims that aggregate supply is perfecthy inelastic. (1) (2) 59. As per the real business cycle theory business cycle is caused by (1) an increase in supply of money (2) a change in the rate of technological progress. (3) a change in propensity to consumer (4) none of the above
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Nidhi taparia Best Answer
59. The correct answer is (2). Proponents of real business cycles theory stated that technological shocks or changes cause cycles. They have got nothing to do with the role of money or consumer demand.