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Final

COMPLETE Principles of Economics II/Macroeconomics Notes - Part 3 (got 4.0 on the final)

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Department
Economics
Course
ECON 1132
Professor
All Professors
Semester
Winter

Description
Macroeconomics, Test #3 Keely Henesey Chapters 10­16 Chapter 10: Economic Fluctuations Introduction − Neither output nor employment grows as smoothly and steadily as the classical model predicts;  instead, we have economic fluctuations − Recessions—output/employment declines − Expansions—output/employment rises (output often rises faster than potential output) −  Boom : a period where ealGDP>PotentialGDP] −  Slump : a period where alGDP
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