ECO 1102 Study Guide - Final Guide: Great Moderation, Gdp Deflator, Progressive Alliance Of Socialists And Democrats
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10 Dec 2014
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ECO 1102 Full Course Notes
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Rate of unemployment in 2008: 5. 9% (lowest in 30 years) The rate of growth in real gpd in 2013 is expected to be about: + 1 to 2% During the last 6 months of 2012, the economy was flat, which means the growth rate was about 0% Inflation rate is currently running at an annual rate of 2% Level of gpd per year is approximately 1. 76 trillion. 1950s-1960s continuous growth in gpd, low inflation and unemployment. 1970s - stagnation + inflation = stagflation. 1980s steep recession followed by strong recovery. 1990s - low inflation and pretty high unemployment until second half of the decade. 2000 return of the good old days" as far as the macroeconomy is concerned. The financial sectors of the usa and the uk got out of control. 2008-2009 a financial meltdown causes the great recession". Not as severe in canada as in the usa.