Question

While over the long run, the economy grows about 2 to 3% per year on average,...

  • While over the long run, the economy grows about 2 to 3% per year on average, over the shorter term, the economy goes through business cycles. Think about the growth rate of GDP, the inflation rate, and the unemployment rate over the last 12 quarters. Would you describe the economy as booming, recovering, or in recession during the last few years? Why? Which curve do you think caused the change? Explain your reasoning.
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
While over the long run, the economy grows about 2 to 3% per year on average,...
While over the long run, the economy grows about 2 to 3% per year on average, over the shorter term, the economy goes through business cycles. Think about the growth rate of GDP, the inflation rate, and the unemployment rate over the last 12 months. What conclusions about the state of the economy? Would you describe the economy as booming, recovering, or in recession during the last few years? Why? Use the AD-AS model to describe the economy. Which curve...
While over the long run, the economy grows about 2 to 3% per year on average,...
While over the long run, the economy grows about 2 to 3% per year on average, over the shorter term, the economy goes through business cycles. Think about the growth rate of GDP, the inflation rate, and the unemployment rate over the last 4 quarters including the Covid-19 period until July. Once you’ve looked at the data, can you draw conclusions about the state of the economy? Would you describe the economy as booming, recovering, or in a recession? Why?...
Respond to the following prompt in a post with a minimum of 100 words, then comment...
Respond to the following prompt in a post with a minimum of 100 words, then comment on at least ONE other posts. While over the long run, the economy grows about 2 to 3% per year on average, over the shorter term, the economy goes through business cycles. Think about the growth rate of GDP, the inflation rate, and the unemployment rate over the last 12 quarters. Would you describe the economy as booming, recovering, or in recession during the...
Thinking back to the discussion on the state of the macroeconomy, would you describe the economy...
Thinking back to the discussion on the state of the macroeconomy, would you describe the economy as booming, recovering, or in recession during the last few years? Why? Use the AD/AS model to illustrate this graphically. Which curve do you think caused the change? Explain your reasoning.
1- The long-run aggregate supply curve assumes that the unemployment rate is more than 9 percent....
1- The long-run aggregate supply curve assumes that the unemployment rate is more than 9 percent. only laborers are fully employed. all factors of production are fully employed. there is no government purchasing of goods and services. 2-The natural rate of unemployment will help determine the level of economic growth in the economy. the position of the long-run aggregate supply curve. low levels of inflation. the open economy effect. 3-The vertical axis for an aggregate demand curve measures real income....
1.) Over the period 1987-2017, annual growth in real GDP averaged 2.6% per year, growth in...
1.) Over the period 1987-2017, annual growth in real GDP averaged 2.6% per year, growth in M2 averaged 5.5% per year, and growth in velocity averaged -0.6% per year.    Calculate the average inflation rate over the period 1987-2017.  Answer as a percent, round to one decimal place and do not enter a "%" sign. 2.) Assume growth in velocity is equal to zero and potential (trend) real GDP grows at rate of 2% per year in the long-run. If the central...
answer the following questions Q21.When the economy experiences an expansion, it is most likely the case...
answer the following questions Q21.When the economy experiences an expansion, it is most likely the case that------------------------------- GDP is increasing, unemployment is increasing, and inflation is decreasing. GDP is increasing, unemployment is decreasing, and inflation is increasing. GDP is decreasing, unemployment is decreasing, and inflation is increasing. GDP is decreasing, unemployment is decreasing, and inflation is decreasing. Q22. GDP is an important economic measurement because it provides valuable data on unemployment rates measures the combined total of all intermediate and...
The tables below describe the employment and price level situation for the country of Gatoria over...
The tables below describe the employment and price level situation for the country of Gatoria over the past four years. Fill out the tables and use them to answer the following questions about how policymakers and politicians in the country might respond to such a situation. Year # Unemployed (in millions) # Employed (in millions) Unemployment Rate 2015 16 210 2016 22 205 2017 20 195 2018 18 200 What has been happening to the unemployment rate since 2015? Use...
1) If the Federal Reserve conducts an open market purchase, we can expect that the short-run...
1) If the Federal Reserve conducts an open market purchase, we can expect that the short-run Phillips curve will shift left. the short-run Phillips curve will shift right. t here will be a movement to the right along the short-run Phillips curve. there will be a movement to the left along the short-run Phillips curve. the long-run Phillips curve will shift right. 2) In the long run, the Phillips Curve shows that the natural rate of unemployment is independent of...
1. In which phase of the business cycle is the U.S. economy currently in? ________________. How...
1. In which phase of the business cycle is the U.S. economy currently in? ________________. How many months has the U.S. economy been in this stage of the business cycle? ___________ months 2. How long has the current expansion/recovery lasted to date? _________________ How does this compare to the average length of U.S. recessions since 1854? ______________________________. 3. What do the last four recoveries/expansions (that is, the current recovery/expansion and the previous three recovery/expansions), suggest about a new trend in...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT