Macroeconomics (12th Edition) (Pearson Series in Economics)
12th Edition
ISBN: 9780133872644
Author: Michael Parkin
Publisher: PEARSON
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Question
Chapter 12.1, Problem 1RQ
To determine
The mainstream theory of the business cycle.
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Explain the different phases in the typical business cycle.
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Pick four of the leading economic indicators and
explain why each of them is useful in predicting
economic cycles. Use theory to explain why.
Chapter 12 Solutions
Macroeconomics (12th Edition) (Pearson Series in Economics)
Ch. 12.1 - Prob. 1RQCh. 12.1 - Prob. 2RQCh. 12.1 - Prob. 3RQCh. 12.1 - Prob. 4RQCh. 12.1 - Prob. 5RQCh. 12.2 - Prob. 1RQCh. 12.2 - Prob. 2RQCh. 12.2 - Prob. 3RQCh. 12.2 - Prob. 4RQCh. 12.2 - Prob. 5RQ
Ch. 12.2 - Prob. 6RQCh. 12.2 - Prob. 7RQCh. 12.3 - Prob. 1RQCh. 12.3 - Prob. 2RQCh. 12.3 - Prob. 3RQCh. 12.3 - Prob. 4RQCh. 12.3 - Prob. 5RQCh. 12.3 - Prob. 6RQCh. 12.4 - Prob. 1RQCh. 12.4 - Prob. 2RQCh. 12.4 - Prob. 3RQCh. 12.4 - Prob. 4RQCh. 12 - Prob. 1SPACh. 12 - Prob. 2SPACh. 12 - Prob. 3SPACh. 12 - Prob. 4SPACh. 12 - Prob. 5SPACh. 12 - Prob. 6SPACh. 12 - Prob. 7SPACh. 12 - Prob. 8SPACh. 12 - Prob. 9APACh. 12 - Prob. 10APACh. 12 - Prob. 11APACh. 12 - Prob. 12APACh. 12 - Prob. 13APACh. 12 - Prob. 14APACh. 12 - Prob. 15APACh. 12 - Prob. 16APACh. 12 - Prob. 17APACh. 12 - Prob. 18APACh. 12 - Prob. 19APACh. 12 - Prob. 20APACh. 12 - Prob. 21APACh. 12 - Prob. 22APACh. 12 - Prob. 23APACh. 12 - Prob. 24APA
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Similar questions
- Plot these data points, and identify the four phases of the business cycle. Give a theory that may explain the cause of the observed business cycle. What are some of the consequences of a prolonged decline in real GDP? Is the decline in real GDP from $1,000 billion to $500 billion a recession?arrow_forwardDescribe the effect of the business cycle on the inflation rate and the unemployment rate.arrow_forwardWhat are the main causes of a business cycle? Is there one main cause?arrow_forward
- Discuss the key problem associated with the Real Business Cycle model. How can this problem be addressed?arrow_forwardAt the time you are studying the material in this chapter, which phase of the business cycle do you think the U.S. economy is in? Justify your answer.arrow_forwardreal business cyclesarrow_forward
- Are the four phases of the business cycle in a certain order?arrow_forwardBusiness cycles can wreak havoc in the economy and create real economic hardship. Remember, the three indicators to keep your eye on are the unemployment rate, the rate of inflation and the GDP growth rate. At the peak of the business cycle, which economic indicator will enter the “danger zone”? How about in the trough?arrow_forwardThe three indicators to keep your eye on are the unemployment rate, the rate of inflation and the GDP growth rate. At the peak of the business cycle, which economic indicator will enter the “danger zone”? How about in the trough?arrow_forward
- Why do economists seek to abstract from the business cycle to focus on long-term secular trends in output?arrow_forwardIs there a personal responsibility to intervene and assist in a recession? Should Christians step up rather than the government?arrow_forwardFundamental causes of a nation's business cycle fluctuations?explainarrow_forward
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