ECON 2010 Chapter Notes - Chapter 10: Longrun, Structural Unemployment, Frictional Unemployment

95 views6 pages
School
Department
Course
Professor

Document Summary

Chapter 10 short-term economic fluctuations econ 2010 macroeconomics. Steep slide in economy as unsold goods pile up . Fed plans to inject another trillion to aid economy . World bank says global economy will shrink in 09 . U. s. economy has passed through its worst recession in 25 years. Business cycles are short-term fluctuations in gdp and other variables. A depression is a particularly severe recession. A peak is the beginning of a recession: high point of the business cycle. A trough is the end of a recession: low point of the business cycle. An expansion is a period in which the economy is growing at a rate significantly above normal. A boom is a strong and long lasting expansion. Nber declared a recession december 2007: previous recession ended november 2001, 73 month expansion. Four important monthly indicators used to date recessions: industrial production, total sales in manufacturing, wholesale, and retail, non-farm employment, real after-tax household income.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents