Real business cycle theory

Real Business Cycle (RBC) theory explains economic fluctuations through the lens of real (as opposed to monetary) shocks to the economy, such as changes in technology or supply-side factors. RBC theorists argue that business cycles are driven by exogenous technological shocks, which affect productivity and, consequently, the economy's output. These shocks lead to changes in labor and capital utilization, influencing the ______ ________ ____ ___ ________ ________ _________ ___ ___ ___ ______.
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