Economics > EXAM > Full 104 page summary of Monetary Economics Questions and Answers(211581)2023 (All)

Full 104 page summary of Monetary Economics Questions and Answers(211581)2023

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Th The business cycle - -Alternating rises and declines in the Rea GDP -4 phases of the business cycle - -Peak Recession-more than 6 month (decline) Trough Expansion -The business cycles ... vary greatly in - -Duration intensityn -Causation - -changes in the levels of total spending ( major innovations; major changes in proudctivity; purely monetary phenomenon) -Impacts of the business cycle - -Recession hurt Expansion Benefits Recession does not affect Unemployment -Recession hurts - -Producers of capital goods ( Walmart will do well) Producers of consumer durables -Expansion benefits - -Producers of capital goods producers of consumer durables -Recession does not affect - -Service ( medical and legal) consumer non durables -Unemployment - -people who are willing and able to work but don't have one; people in the labor force without jobs. -Measurement: Unemployment rate - -(unemployed/labor force)*100 -Labor force - -= employed +unemployed -Labor force excluded people who are - -under 16 Institution alined [Show More]

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