2. In the shadow of the 2008 financial crisis, economists in 2010 were debating whether the Philippine economy was in a recession. GDP seemed to be rising, yet the unemployment rate was stuck at a high level. In thinking about the economic distress experienced during a recession, which is more important to address and why: high unemployment or falling GDP? Explain. You can only choose one.
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- What makes the 2007-2009 recession special? 1. because of the length of the recession 2. because of period required for the economy to recover from the recession and why"During a recession more people qualify for unem ployment insurance . This will increase the government spending category of GDP and help reduce the sever ity of the recession " Do you agree with this statement ? Why or why not1. How many recessions did the US economy experience between 1929 and 2020? What were the four longest recessions between 1929 and 2019, not including the COVID-19 recession? What were the three deepest recessions between 1929 and 2019? That is, during which three recessions was the decline in real GDP biggest from peak to through? How long did the COVID-19 recession last?
- 30. What is the difference between a recession and a depression? A. A depression is the opposite of a recession. B. A depression occurs at the peak of the business cycle, while a recession occurs during a contraction. C. A depression is a particularly severe and long-lasting form of recession. D. A depression is caused by government inaction, while a recession is a natural feature of the business cycle.22. Which of the following is the technical definition of a recession? A. a fall in GDP for four consecutive quarters B. a rise in unemployment for two consecutive quarters C. a fall in GDP for two consecutive quarters D. a rise in unemployment for four consecutive quartersA number of macroeconomic variables decline during recessions. One of these variables is the GDP. 1. What other variables, besides real GDP, tend to decline during recessions? Given the definition of real GDP and its components, explain the declines in these economic variables which are to be expected. 2. Empirical studies indicate that the long-run trend in real GDP of the USA has an upward trend. How is this possible given business cycles and macroeconomic fluctuations? What factors explain the upward trend in spite of the cycles?
- good day kindly explain Given that Japan’s economy is currently in the expansion phase of the business cycle, which of the followingis most likely to occur in Japan?A. Rising unemployment and economic contraction.B. A decrease in consumer spending and business investments.C. Increasing economic activity, rising employment, and growing consumer confidence.D. A decrease in government spending and fiscal austerity measures.2. There are three big issues in macroeconomics – national output, unemployment, and inflation. Briefly explain how each of these issues reflects an aspect of the economic situation for a given country, at a given time. How are GDP, unemployment, and inflation interconnected? Consider this from a Keynesian perspective.a. Examine the fundamental causes of a nation’s business cycle fluctuations. Also, examine the relationship between total spending by government and consumers in a nation and the location of the countries’ GDP on the business cycle. b. 1. Suppose you have $200,000 in a bank term account. You earn 5% interest per annum from this account.You anticipate that the inflation rate will be 4% during the year. However, the actual inflation rate for the year is 6%.Calculate the impact of inflation on the bank term deposit you have and examine the effects of inflation in your city of residence with attention to food and accommodation expenses. 2. The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilian population in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and 0.7 million were unemployed.Calculate Australia’s labor force and the number of people in the civilian population who were not in…
- Macro Economics 1. Explain how the effectiveness of fiscal and monetary policy depends on whetherthe policy change is initiated at a low or high level of output relative to full-employment output. Make sure to provide your answer with the relevant graphsand mathematical equations.8. What are the four phases of the business cycle? а. b. с. d. A key question in macroeconomics is why the economy experiences business cycle fluctuations rather than slow, smooth growth. The most prominent theory is that business cycle fluctuations are the result of (flexible, sticky) prices interacting with economic shocks. Why does the business cycle affect output and employment in capital goods and consumer durable goods industries more severely than in industries producing nondurables?1. If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the economy operating relative to its potential GDP?