economics_for_manager, Role in market equilibrium.

May 20th, 2015
Studypool Tutor
Aberystwyth University
Price: $20 USD

Tutor description

GDP rises and falls over short spans of time At any point in time, it may be above or below its long run trend These fluctuations define the business cycle

Word Count: 1180
Showing Page: 1/29
Topic 9MacroeconomicsConcerns &Macroeconomic PoliciesBusiness Cycle GDP risesand falls over short spans of time At any point in time, it may be above orbelow its long run trend These fluctuations define the businesscycle Periodic movements in output, prices, andemployment Business cycles are not created equal.DurationSeverityPhases of the Business CyclePeak: The highest level ofeconomic activity in aparticular cycleReal GDPExpansion: Arising level ofbusiness activityContraction: Anoticeable drop in thelevel of business activityTrough: The lowestlevel of business activityin a particular cycleTimeMacroeconomic ConcernsAggregate Price Level Aggregate Output Total Employment Rest of the WorldInflation and Prices Price level:levela measure of the behaviorof all prices in the economy Price level is a yardstick -- a tool forcomparison of prices over time. Inflation:Inflationlevelthe rate of change in the pricePercentage change in GDP deflator, 1959 - 199412.0Inflation Rate10. Output (GDP)Gross Domestic Product(GDP) is the dollar value of allfinal goods and servicesproduced.UnemploymentTheunemployment rate refers tothe percentage of people in thelabor force who cant find a job.LaborForce:peoplewhoareLaborForceLaborForce:peoplewhoareLabor

Review from student

Studypool Student
" Solid work, thanks. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1820 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors