Lecture 7:Macroeconomics Problem
I
Business
cycle move lessregular fluctations of GDP around its long-run trend.
associated changes levels of employment & prices
in
Four
phases of business 1. Peak Boom
cycle maximum
output (real Gypp)
high employment (minimum unemployment
& business confidence
consumer
optimism is
I
Trough
minimum
output [eal Gpp)
business activityoflowestprintinvent
consumer & business confidence is
poor
3.
Contraction / Recession
real GDP falling
unemployment rising
business & consumer
confidence declining
occurs when
two quarters declining real Gpp.
↑
Expansion (Recovery
(real GDP)
output rise
unemployment falling
business & confidence
growing
consumer
Unemployment not noting during reference
old & who are
·Person16years
above is we
made
specific efforts to find work over
past 4 weeks
critical issue occurs as labour force
grow
macroeconomic issue
directly affects people
lost income & reduced standard of living when
family unemployed.
I
Business
cycle move lessregular fluctations of GDP around its long-run trend.
associated changes levels of employment & prices
in
Four
phases of business 1. Peak Boom
cycle maximum
output (real Gypp)
high employment (minimum unemployment
& business confidence
consumer
optimism is
I
Trough
minimum
output [eal Gpp)
business activityoflowestprintinvent
consumer & business confidence is
poor
3.
Contraction / Recession
real GDP falling
unemployment rising
business & consumer
confidence declining
occurs when
two quarters declining real Gpp.
↑
Expansion (Recovery
(real GDP)
output rise
unemployment falling
business & confidence
growing
consumer
Unemployment not noting during reference
old & who are
·Person16years
above is we
made
specific efforts to find work over
past 4 weeks
critical issue occurs as labour force
grow
macroeconomic issue
directly affects people
lost income & reduced standard of living when
family unemployed.
