What are the effects of an increase in total factor productivity on the real interest rate, aggregate
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What are the effects of an increase in total factor productivity on the real interest rate, aggregate output, employment, the real wage, consumption, and investment? Explain how these results relate to key business cycle facts and the causes of business cycles.
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The business cycle is caused by the forces of supply and demandthe movement of the gross domestic p...View the full answer
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Dudhat Vaidehi
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