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Practice Questions - Elevate Education
Practice Questions - Elevate Education

Document
Document

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湖南城市学院课程考试大纲 课程名称 西方经济学 课程编号 英文名称

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... an engine of growth. More recently, falling nationwide property and home sales have become an increasing drag on the economy, raising concerns about whether the country will meet its official target growth rate of 7.5%. ...
Real Business Cycles: A New Keynesian Perspective
Real Business Cycles: A New Keynesian Perspective

... technology is relatively unfavorable. The marginal product of labor and thus the real wage are low. In response to the low return to working, individuals reduce consumption and increase leisure. Since real business cycle theory describes economic fluctuations as a changing Walrasian equilibrium, it ...
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Mankiw 5/e Chapter 19: Advances in Business Cycle Theory

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Chapter 11 - Introduction to Macroeconomics
Chapter 11 - Introduction to Macroeconomics

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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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