Unit 4: Business Fluctuations

Introduction

What’s in This Chapter? Now that we know what GDP is and how it is measured, we are ready to analyze GDP changes. Studying business fluctuations teaches us that during most years in politically stable, mixed or capitalist...

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Section 1: Business Fluctuations

Recessions, Expansions, Peaks, and Troughs Business fluctuations are increases and decreases in economic activity, as measured by increases and decreases in real GDP. A recession (or contraction) is defined as a decrease in real...

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Section 2: The Great Depression of the 1930s

Before the 1920s Before the 1920s, industrialized countries around the world enjoyed mostly free market economies. Government involvement was limited to essential functions, such as the provision of a legal system, national...

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Section 3: The Unemployment Rate

The Unemployment Survey The unemployment rate is one of the nation’s most important measures of economic health. Some people think that the unemployment rate is measured by counting the number of persons who claim...

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Test Your Knowledge!

Time limit: 0 Quiz-summary 0 of 10 questions completed Questions: 1 2 3 4 5 6 7 8 9 10 Information This is a ten question multiple-choice quiz covering the material in this Unit. I hope you do well! You have already completed...

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