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ECON 2020-400 Principles of Macroeconomics
ECON 2020-400 Principles of Macroeconomics

... Economics 2020 introduces the basic concepts of macroeconomics. Actual economic events will be discussed and their linkages to economic theory will be studied. We will study the behavior of an economy in the aggregate with special emphasis on the U.S. economy. The objective of economic growth and pr ...
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... 1. Building on Monetarism, economists such as Robert Lucas, argue that monetary and fiscal policy can only affect the "real" portion of the economy when their use is unexpected. Since it is thought that policy changes cannot be kept secret in the modern economy, New Classical economists concluded th ...
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Globalization – Principle and Practice - Rose

... monetary value of all goods and services produced in a country in a given year. Gross National Product: Same as above, but takes into account foreign exchange (trade; foreign companies in the US; US companies producing abroad) Per capita GDP: Overall GDP divided by the population Purchasing Power Pa ...
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... In the short-run, fiscal policy stimulus often exceeds monetary policy expansion in an effort to offset a recession. Yet tax receipts that would fund a fiscal stimulus tend to fall as overall GDP either slows in growth or moves in contraction. All of this generates a regular debate on the optimal s ...
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Planned economy
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... Prosperity—Unemployment low, consumer confidence/purchasing high, businesses expanding Recession—A cycle of economic contraction that lasts for six months or longer; consumers careful about purchases, businesses slow production/expansion Depression—Extended recession Recovery—Declining unemployment, ...
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Economics (Zimbabwe)..

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... and downs of the business cycle, the total production of goods and services still grew by about $10 trillion between 1950 and 2008. Similarly, the stock market also rose over the same period, as Chart 3 above illustrates. Even though the Dow declined due to recessions and other events, it still rose ...
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... a. Designed to increase output 9. Why is Demand-Side economics so named? a. To increase demand 10. According to Keynesian theory, how should declines in business spending be offset? a. By increased government spending 11. What are the most effective counter-cyclical fiscal policies used today? a. Au ...
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... ensure full employment. 13. the total output of goods and services in the economy for a period of one year ...
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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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