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Business, 03.12.2019 03:31 QueenNerdy889

7. in 1973, the major oil-producing nations of the world declared an oil embargo. the price of oil, a key source of energy, increased. in many countries, this led to a fall in real gdp and employment. which of the three business cycle theories explained in the chapter – real business cycle theory, keynesian theory, and monetary theory – would best fit this explanation of the 1973 recession?

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7. in 1973, the major oil-producing nations of the world declared an oil embargo. the price of oil,...
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