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Author Question: The real business cycle model focuses on how A) the labor theory of value is the best measure of ... (Read 74 times)

Anajune7

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on: Jun 29, 2018
The real business cycle model focuses on how
 
  A) the labor theory of value is the best measure of value of a good or service.
  B) productivity shocks explain fluctuations in real GDP.
  C) wage and price stickiness explains fluctuations in real GDP.
  D) the Federal Reserve should adopt a monetary growth rule.

Question 2

What is hedonic analysis?
 
  What will be an ideal response?


honnalora

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Hedonic analysis refers to the study of the prices of goods, services, or jobs in terms of the prices of the characteristics that they embody. Every good or service has features that can be viewed as attributes, and how much a consumer is willing to pay for these goods depends on the bundle of attributes. The term that is used for the analysis of consumers' willingness to pay, and companies' willingness to supply such characteristics, is hedonic analysis.
A-head: ECONOMIC TOOLS TO VALUE HUMAN LIFE
Concept: Hedonic analysis


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