Suppose there was a change in preferences in a real business cycle model such that the representative

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Suppose there was a change in preferences in a real business cycle model such that the representative agent valued leisure more and consumption goods less. How would output and employment be affected by the change?

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Macroeconomics Theories and Policies

ISBN: 978-0132831529

10th edition

Authors: Richard T. Froyen

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Question Posted: May 24, 2016 06:46 AM

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Suppose there was a change in preferences in a real business cycle model such that the representative

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If the representative individual preference function shifted away from consumption ...View the full answer

Macroeconomics Theories and Policies

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