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Chapter 30
Chapter 30

... the stimulus plan that increased government expenditure would prevent the unemployment rate from rising much above 8 percent. This prediction turned out to be optimistic. One reason might be that the multiplier assumption was also too optimistic. © 2013 Pearson ...
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FREE Sample Here - We can offer most test bank and

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Business cycle

The business cycle or economic cycle is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend. These fluctuations typically involve shifts over time between periods of relatively rapid economic growth (expansions or booms), and periods of relative stagnation or decline (contractions or recessions).Used in the indefinite sense, a business cycle is a period of time containing a single boom and contraction in sequence.Business cycles are usually measured by considering the growth rate of real gross domestic product. Despite being termed cycles, these fluctuations in economic activity can prove unpredictable.A boom-and-bust cycle is one in which the expansions are rapid and the contractions are steep and severe.
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